Konzum to acquire hotels in Hungary and Austria

The board of the listed holding company, Konzum has approved the acquisition of a spa in Egerszalók (Northeast Hungary) and two hotels in the Australian ski centre of Kreisberg, in exchange for privately placed shares. This is the second stage of the planned HUF 30 billion capital investment, as confirmed by Konzum in his statement which was posted on the Budapest Stock Exchange website.

 Konzum plans to raise the capital through a private placement of 1,137,090 new shares in the stock exchange in return for contribution worth a total of HUF 3.571 billion. The number of Konzum shares is expected to reach 27,143,506, as indicated in the national news agency MTI reports.

The contributions to raise the capital is expected from the new shares which will be subscribed by the Wellnesshotel Építő and the Konzum PE Private Equity Fund which is owned by a group of companies controlled by Lőrinc Mészáros who is known for his close ties with the government and the Prime Minister Viktor Orbán. According to public records, Mészáros also holds a "qualified majority influence" in Wellnesshotel Építő.