Megdet Rahimkulov, one of Hungary's richest men, agreed yesterday on an option to sell his 26.2% stake in BorsodChem Rt, the biggest maker of PVC plastic in Eastern Europe.
Firthlion Ltd, Rahimkulov's company, can sell the shares to Luxembourg-based Kikkolux S.ar.l. through the end of October, BorsodChem said in a statement to the Budapest Stock Exchange (BÉT) website today. Rahimkulov, who also controls ÁÉB Bank Rt, became BorsodChem's largest shareholder last month after he bought the shares in several steps through other companies and family members.
BorsodChem shares rose 0.33% to Ft 2,700 before being suspended on the Budapest bourse at 10 a.m. today, pending the company's announcement.