Private equity fund Főnix wants to take control of a financial investment firm that manages the construction of several hundred homes and office towers within the BudaPart mixed-use project in Budapest.
Hungarian fund manager firm Diófa Alapkezelő intends to join the BudaPart project by obtaining negative control over Kopaszi Gát Kft., which is the financial investor of that huge project in South Buda. Diófa’s private equity fund Főnix will act on behalf of the buyer.
The transaction has to be approved by Hungarian Competition Authority. Change in the ownership of the financial investment firm doesn’t affect the execution of the project.
At Diófa itself changes were also made recently as a leading Hungarian property developer and asset management company BDPST Group took over Tarragona Holding which had a controlling stake in Diófa.
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