News Article Appeninn BDPST domestic funds Hungary Indotek investment OTP
by Property Forum | Investment

BDPST Zrt.’s holding in asset management firm Appennin has dipped below 5 percent as investment funds managed by the Indotek Group and the OTP Group purchased a significant stake in the company. During the over-the-counter transaction, Indotek Group acquired a 24 per cent stake from BDPST Zrt.

On April 22, BDPST Zrt. announced that it would divest its 29.3 percent shareholding in Appeninn. As published on the Budapest Stock Exchange’s website on 15 May, Indotek Group purchased a significant part of the package in question from BDPST Zrt.

In addition to Indotek Group, the two investment funds managed by OTP Group also purchased a stake in Appeninn from BDPST in an over-the-counter transaction. With the above transactions, BDPST Zrt.'s share in Appeninn decreased below 5 percent. BDPST Zrt. plans to continue selling its remaining shares on the market.

Indotek is not the only major Hungarian real estate firm that has recently acquired an interest in Appeninn. One month ago Zinventive Asset Management bought an 18.33 percent stake in Appeninn in an over-the-counter transaction. Through its ownership, Zinventive Asset Management is closely associated with Bayer Construct Group, which is one of Hungary's leading construction and real estate development groups.