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Revenue of companies controlled by Csányi exceeds Ft 100 bln in 2004

Consolidated revenue of companies controlled by Sándor Csányi, the head of OTP Bank Rt and Hungary's richest man, came to Ft 103.7 billion in 2004, a recent decision by the Competition Office (GVH) reveals.

Csányi's assets were last estimated to be Ft 70 billion by Manager Magazin in October 2005. GVH said on Thursday it had approved the acquisition of 25% of a wine cellar Csányi owns by Bonitas 2002 Kft, one of his wholly-owned companies. In the same resolution, GVH also fined Bonitas and Csányi a combined Ft 7.2 million for failing to request approval for acquisition on time. Bonitas signed a contract to acquire 24.61% of the wine cellars Csányi Pincészet in July 2005. At the time Csányi already held a 48.54% direct stake in the wine cellars.
Csányi Pincészet had sales of Ft 1 billion in 2004, giving it about 5% of Hungary's wine market. The company's vineyards account for about 12% of Villány, one of Hungary's most famous winegrowing regions.