Fevita's board buys huge share of equity

Deals

The management and certain members of the board of Székesfehérvár-based refrigerator manufacturer Fevita Rt have bought a significant proportion of the company's shares, business daily Világgzadaság reported. István Rengel, former CEO resigned this summer, now a member of the board of directors bought 12.31%, former CEO Zoltán Baráth purchased 10.14% of the company's shares, while  production and marketing director László Kuthy and sales director Mihály Pázmándi bought 10% and 10.22% of Fevita's equity, respectively. The seller of the shares is undisclosed. In Q2 2005 the company had sales revenue of Ft 1.75 billion, with operating losses of Ft 99 million.

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