Hungary's state privatization agency ÁPV on Thursday picked the consortium of GL Events, TriGránit Rt and West End Rt as winner of a privatisation tender of exhibition company Hungexpo Rt's 77.01%. The Hungarian-French consortium will pay a purchase price of HUF 8 billion for the package.
The development is carried out via a HUF 7.5 billion investment, of which HUF 5 billion will be done in the first five years of operation. According to the decision the exhibition city will remain at its current location, in the 10th district of Budapest.
The consortium won ahead of Carion.
Source: Portfolio online financial journal
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11.03.2005