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Appeninn acquires logistics properties through merger

Appeninn, a holding company for B-category office space, has acquired two logistics properties following a merger with Rotux, Appeninn's PR company said on Tuesday.

Appeninn acquired a 7.2-hectare site with 6,000 sqm of building area in Kecskemét, near a big factory German carmaker Daimler is building there. It also acquired a 3-hectare site with 2,400 sqm of building space in Szentes (SE Hungary).

Appeninn acquired a further HUF 170 million in cash and HUF 450 million in securities as a result of the merger.

Appeninn's net assets climbed over HUF 4.5 billion after the merger was registered with the company court.