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OTP Real Estate Fund raises stake in Appeninn

Holding company Konzum on Monday said it sold 4.94% of the shares of property holding company Appeninn, more than two million shares, to OTP Real Estate Fund in an OTC transaction.

OTP Real Estate Fund Management told the board of Appeninn Holding Monday that OTP Real Estate Fund purchased a further 400,000 Appeninn shares through stock exchange transactions, increasing its holding in the company to 5.92%, national news agency MTI reported.

Appeninn said the transaction reduced the stake of Konzum to 21.18%, and that of the Konzum group to 46.46%.

Konzumʼs PR agent said in a press statement that as a result of already announced property transactions, Konzumʼs stake in Appeninn will again exceed 50% in the near future.