CP Holdings Ltd., a UK investor, has increased its stake in Hungary's Danubius Hotels Nyrt to 63.1% through a transaction outside stock exchange trading, the hotelier said.
CP Holdings, based in London, purchased 566,695 shares for an undisclosed price, Danubius said in a statement to the Budapest Stock Exchange today. The company has a 25.9% direct stake and holds a further 37.2% through two units, Israel Tractors and Equipment Co. Ltd. and Interag Holding Zrt. CP Holdings on August 8 made a buyout offer for all the shares it doesn't own in Danubius, at Ft 5,825 a share. The stock traded at Ft 7,655 at 1:43 p.m. in Budapest, up 1% from yesterday's close. (Bloomberg)