German sugar processor Nordzucker has consolidated its interest in Hugary by buying out minority interests in three sugar refiners in which it already held a majority ownership.
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The seller is state-owned Hungarian company Forras, which said it sold the shares at 70% of face value and posted a profit of over HFt200m (US$942,000) on the sale.
The share packages sold had a face value of HFt1.414bn in the Matra Cukor refiner, HFt1.359bn in Szolnoki Cukorgyar and HFt816m in Szerencsi Cukorgyar.
The deal reinforces Norzucker’s position in Hungary, after it acquired the majority stakes from France’s Béghin-Say earlier this year, reported Reuters.
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