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Eximbank, OTP eye joint stake in Graboplast

Telco

A venture capital venture fund owned by Eximbank and OTP Bank is seeking to acquire a 16% stake in Hungarian specialty flooring maker Graboplast, Hungarian business daily Napi Gazdaság reported on Friday, citing the Competition Office’s (GVH) announcement. 

The fund is expected to acquire "decisive influence in some questions of business strategy" with the stake, according to the announcement. Neither the management of Graboplast nor the fund confirmed the news for Napi Gazdaság, although Graboplast chairman-CEO Péter Jancsá said in July that the company was looking to raise funding for a HUF 6.3 bln investment at its base. Graboplast had revenue of HUF 16.9 bln last year. Exports generated HUF 15.5 bln of the total. The company employs 550 people.

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