Listed holding company Opus Global said late on Thursday that it is selling its 9% stake in listed property holding company Appeninn to the biggest stakeholder in Appeninn, BDPST, Hungarian news agency MTI reports.
Opus and BDPST signed an agreement on October 8 concerning the deal and Opus is retaining ownership of the shares until the purchase price is paid in full. BDPST has until December 20 to pay the purchase price.
Opus still wishes to sell its remaining 9.7% stake in Appeninn and end its direct control over the company, as announced at the end of September, and will assign an investment firm to handle the process and will inform investors on future developments.
Real estate developer BDPST is owned by investor István Tiborcz, the son-in-law of Prime Minister Viktor Orbán.