Bourse-listed energy company Genesis Energy Nyrt said Switzerland’s Vital Source has sold its 8.47% share in the company.
Vital Source dumped its Genesis share on February 23 after ─ along with four South African companies ─ it arranged a HUF 21.58 billion capital injection for Genesis last year breaching market regulations on acquisitions, which has blocked it from practicing its shareholder rights.
Hungary’s financial watchdog PSzÁF has imposed fines of a combined HUF 100 million in connection with the case. Vital Source sold its Genesis stake to Genesis Investment Funds, whose share in Genesis Energy increased to 9.88% as a result.
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