The buyout offer is being made by Trevelin Holding and Geraldton Invest, both controlled by Dániel Jellinek, the head of property developer Indotek; High Yield, owned by György Waberer, who built the company up over more than two decades; and MHB Optimum.

Trevelin Holding and Geraldton Invest own a combined stake of just under 31% in Waberer's, High Yield owns 20% and MHB Optimum holds 21%.

The shareholders have submitted their buyout offer to the National Bank of Hungary (MNB) for approval.

In a separate announcement posted on the bourse website on Friday, Waberer's said the MHB Optimum was acquired by property developer BDPST Equity from the investor Ferenc Mike.