Deals
Orban Family Extends Business Ties in Appeninn Deal With Tycoon
- BDPST group, owned by Orban’s son-in-law, buys 20.59% stake
- Transaction solidifies connections to tycoon Lorinc Meszaros
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Hungarian Prime Minister Viktor Orban’s son-in-law Istvan Tiborcz is buying a stake in listed real estate investment trust Appeninn, formalizing the family’s connections with a tycoon who is a close friend of the premier.
BDPST Group, owned by Tiborcz, is acquiring the 20.59 percent stake of Lorinc Meszaros’s Konzum Private Equity Fund in property firm Appeninn Holding, according to a regulatory statement. Meszaros will keep control over Appeninn via Konzum Nyrt., another listed company. Though the transaction price hasn’t been disclosed, the stake is valued at about 6 billion forint ($21 million) at market prices.