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Forrás sells rest of Szegedi Paprika stake

Forrás Rt, a holding company made up of assets formerly owned by the state, announced on Wednesday it has sold its 66.67% stake in paprika maker Szegedi Paprika Spice and Canning Rt. Forrás said the transaction is equivalent to 2.52% of its net assets, which amounted to Ft 19.06 billion at the end of June 2005. Forrás did not disclose the buyer, but sources who wished to remain unnamed said the stake was purchased by Házi Pirospaprika Kft.

 

Forrás bought 100% of Szegedi Paprika's shares from Pick Szeged Rt, Hungary's best-known salami maker, in November 2004. It sold a 33.33% stake in the company to brokerage Cashline Securities Rt in April 2005.