Companies owned by Csányi seek clearance for acquisition of KITE
Three argiculture companies owned by agribusiness and banking magnate Sándor Csányi have asked the Competition Office (GVH) to clear their acquisition of a controlling stake in peer KITE, GVH said on its website, according to Hungarian news agency MTI.
Agrárintegrátor, Agrárspektrum and Agrochain signed a contract on the acquisition of the stake from Sándor Guba on June 30. Guba, a KITE manager, acquired 52% of KITE for about HUF 14 bln in 2013, according to press reports.
KITE was earlier courted by peer Peti Nitrogenmuvek, but Guba stepped in at the last moment and nearly doubled the offer for the company, according to reports. KITE had revenue of HUF 236 bln last year, public records show.
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