Listed holding Opus Global has announced its intention to sell its 18.7% stake in real estate firm Appeninn Holding in order to use profits from the sale for developing strategic divisions, as well as for realizing acquisitions in progress.
The board of Opus Global decided to sell due to positive conditions on the real estate market. The companyʼs long-term investment plan is focused on increasing investment in strategic divisions such as the food industry, energy, construction, tourism, and asset management. Resources gained from the sale will be put to use in Opusʼs energy and food industry projects, it added.
In July, the company announced that, just as in the case of its other minority stakes, it considers stakes in Appeninn Holding as liquid assets, aimed at realizing the highest amount of profit possible for Opus, which is listed in the Equities Prime category on the Budapest Stock Exchange (BÉT).
Opus Global is controlled by the investor Lőrinc Mészáros, a close ally of Prime Minister Viktor Orbán.
Earlier this month, it was announced that the board of Opus Global will ask shareholders for a mandate to issue HUF 28.6 billion of bonds in the framework of the National Bank of Hungaryʼs Bond Funding for Growth Scheme (BGS) at an EGM on October 4.