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Series of capital raises lift Opus net worth more than HUF 200 bln

Telco

The board of Opus Global, controlled by the investor Lőrinc Mészáros, decided on the final steps of a series of capital raises that will lift the listed holding companyʼs shareholdersʼ equity by more than HUF 200 billion to above HUF 250 bln at a meeting yesterday, disclosures and announcements made today show, state news wire MTI reports.

The board decided on the acquisition of a 51% stake in construction business Mészáros Építőipari Holding as an in-kind contribution and the purchase of a 55% stake in the majority owner of the Mátra Power Plant, Hungaryʼs second-biggest generator of electricity.

Opus Global financed the purchase of the latter with the sale of media company Opus Press, the parent of Mediaworks Hungary, to Talentis Group, which is also controlled by Mészáros. Opus Global realized a nearly HUF 3 bln gain on the deal, the company noted.

The board also decided to take over a HUF 4.36 bln liability from Kall Ingredients, one of the biggest isoglucose makers in the region, as an in-kind contribution.

Shareholders of Opus and listed holding company Konzum will decide on a merger at an extraordinary general meeting on December 3. Merging Konzum into Opus is expected to create a company with a market capitalization of HUF 350 bln-400 bln, calculating with current share prices. The merged companies could generate EBITDA of more than HUF 30 bln in 2019.

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