Buyers to take over assets of troubled clothing manufacturer Styl

Telco

A foreign and a Hungarian strategic investor, along with the local council of Szombathely, in western Hungary, will assume ownership of the assets of clothing manufacturer Styl following its liquidation, according to Hungarian news agency MTI. 

The new proprietors, which will also include some of the companyʼs management, declined to comment on the acquisition, but said – through liquidator Vectigalis – that they would announce their plans for the factory when they establish the company that will take it over.

Vectigalis head Márta Péter said the purchase price for the assets is HUF 970 mln. According to Péter, regional MP Csaba Hende announced in December that the state would grant HUF 1.47 bln in support to the local government to preserve the 600 jobs at the plant. The purchasers of the assets, which include Stylʼs largest domestic business partner, will set up a company at the end of May, Péter added. 

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