Eximbank, OTP eye joint stake in Graboplast
A venture capital venture fund owned by Eximbank and OTP Bank is seeking to acquire a 16% stake in Hungarian specialty flooring maker Graboplast, Hungarian business daily Napi Gazdaság reported on Friday, citing the Competition Office’s (GVH) announcement.
The fund is expected to acquire "decisive influence in some questions of business strategy" with the stake, according to the announcement. Neither the management of Graboplast nor the fund confirmed the news for Napi Gazdaság, although Graboplast chairman-CEO Péter Jancsá said in July that the company was looking to raise funding for a HUF 6.3 bln investment at its base. Graboplast had revenue of HUF 16.9 bln last year. Exports generated HUF 15.5 bln of the total. The company employs 550 people.
MET Group Records 2nd Most Profitable Year in 2023
Gov't Considering Fuel Price Intervention
Nat'l Economy Minister Presses for Incentives to Boost E-Mob...
Time Out Market to Open in Budapest Next Year
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
