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Forrás announces sales and purchases worth more than 3% of net assets

Holding company Forrás Nyrt has announced it had sold stakes worth 3.63% of its net assets and made purchases worth 3.18% of net assets. Forrás had net assets of Ft 20.6 billion at the end of June.

Forrás said its unit Marmion Kft had called an option to acquire 99.99% of offshore company Hartberg Investments Ltd. The value of the transaction was equivalent to 3.18% of the parent company's net assets. At the same time, Forrás purchased a 33.34% stake in Marmion from Iglói úti Lakópark Kft at nominal value. Iglói ceased to have a stake in Marmion after the sale.
Forrás also sold a 60% stake in FOR-TWO Real Estate Kft held by its unit KNB Fuente Kft. The sale, which accounted for all of Forrás's direct or indirect holdings in FOR-TWO, was equivalent to 1.08% of Forrás's net assets. Forrás said it sold its 11.89% stake in Öböl Invest Kft in a transaction worth 2.55% of net assets.
The biggest owner in Forrás is Hungarian-owned Arago Investment Holding Nyrt with 49.23% of shares and 88.61% of voting rights.