Hungarian construction magnate Sándor Demján is buying a majority stake in Russia’s national lottery company Orglot from Gazprombank, Hungarian newsweekly HVG reported in its new issue Thursday.
Demján and his investment company Euroinvest raised registered capital in a company they set up for the acquisition, called Orglot Hungary Investment, from Ft 5 million to Ft 24.5 billion in August, HVG said.
Euroinvest contributed Ft 24 billion to the raise and Demján paid Ft 480 million himself. The owners plan to raise capital another €100 million, sources told HVG. The Russian state owns a minority stake in Orglot.
Demján’s construction company TriGránit is one of the biggest in the region. (MTI-Econews)