Bonafarm set to buy into MCS Vágóhíd

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Vertically integrated food processing group Bonafarm is negotiating on purchasing a stake in meat processing firm MCS Vágóhíd, Hungarian business daily Világgazdaság reported today. Bonafarm is owned by Sándor Csányi, chairman and CEO of OTP Bank Group.

MCS Vágóhíd is currently building a giant slaughterhouse in Mohács, southern Hungary, through an investment of HUF 21 billion, for which the company received HUF 2.7 bln government funding. Test operations are set to finish in March.

The share capital of Bonafarm was recently raised from HUF 37 bln to HUF 65.3 bln, the Hungarian paper noted, which it speculates was a step taken prior to the purchase. MCS Vágóhíd is currently owned by financial investor firm HO-ME 2000.

Through its unit Pick Szeged, Bonafarm already held a stake in MCS until early 2015, when it sold its 24.9% share to HO-ME 2000, MTI recalled. Bonafarm and Pick Szeged had signed a strategic cooperation with MCS in September 2013, the agency added.

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