Konzum Private Equity made an offer to acquire remaining 47.5% in Konzum Befektetesi es Vagyonkezelo Nyrt. (DB:KNZ3) from Gellert Jaszai and others for approximately HUF 770 million.

Konzum Private Equity made an offer to acquire remaining 47.5% in Konzum Befektetesi es Vagyonkezelo Nyrt. (DB:KNZ3) from Gellert Jaszai and others for approximately HUF 770 million on March 8, 2017. Under the terms of the mandatory offer each share of Konzum will be acquired for HUF 86.64 in a thirty-day offer period. As part of the offer, Konzum Private Equity will acquire additional 22.5% stake in Konzum Befektetesi es Vagyonkezelo Nyrt. from Gellert Jaszai, also acting in concert and holder of 32.93% stake in Konzum Befektetesi. Lorinc Meszaros, current holder of 19.57% stake in Konzum Befektetesi is not selling his stakes in the offer. The offer will commence on April 14, 2017 and end on May 15, 2017. The transaction received approval from National Bank of Hungary on April 11, 2017 and required no approval from the competition office. The board of Konzum Befektetesi recommended its shareholders not to accept the offer. MKB Bank Zrt. is managing the offer.