State-owned Hungarian holding firm Forras has sold minority stakes in three sugar firms to German sugar company Nordzucker.

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Nordzucker acquired the stakes for 70% of face value, a total of just over HUF2.5bn (US$11.3m).


With the transactions, Nordzucker raises its stake in Szolnoki and Matrai Cukorgyar to 95% each and increases its stake in Szerencsi Cukorgyar to 93%, reported Interfax Hungary.


 

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