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Rahimkulov to invest $250 mln in BorsodChem

Medget Rahimkulov, a Russian national, but the richest man in Hungary, plans to invest $200 million-$250 million in the shares of Hungarian chemicals company BorsodChem Rt over the next two or three years, he said in an interview in the latest issue of business weekly HVG. Rahimkulov also told HVG he would boost his stake in oil and gas company MOL Rt from 2% to 10% if he had the money available. Rachimkulov said he still considers BorsodChem as a financial investment and reiterated that he will sell the shares if the sale offers a 50% gain. Rahimkulov announced already in September that he aims to gain 15%-16% of BorsodChem, then sell the shares at a premium of at least 50%.