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Zsolnay receives only part of purchase price

Manufaktúra Befektető Kft (M-B) has transferred HUF 50 million, only part of the price it has to pay to acquire a 49% stake and the management rights in Zsolnay Porcelánmanufaktúra, based in Pécs, by the Tuesday deadline, regional daily Új Dunántúli Napló reported on Wednesday.

City asset manager Pécs Holding CEO Béla Barna told the paper that Közgép Zrt has recently become owner of M-B Kft. Due to the ownership change, M-B's request that the company would only pay part of the purchase price by May 24 has been accepted.

M-B has made a commitment to pay the remaining amount to Pécs Holding Zrt within 30 days.

There is HUF 225 million still outstanding of the purchase price and the buyer also has to carry out a HUF 500 million capital injection, the paper wrote.