The Board of Directors of AKKO Invest does not recommend accepting the purchase offer for the company’s shares

By: Trademagazin Date: 2024. 09. 17. 10:12

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AKKO Invest’s Board of Directors does not recommend its shareholders to accept the public takeover offer, since the goals of the bidder belonging to the WING Group are in line with the company’s goals and growth strategy, so if they are realized, it can be expected that the market value of the shares owned by them will increase.

AKKO welcomes the expectations of the WING Group, according to which the company should develop its asset management, real estate investment and leasing activities, and its largest subsidiary, NEO Property Services, a key player in the Hungarian real estate management market, should extend the provision of complex services related to the operation and management of real estate to an ever wider range.

The Board of Directors of AKKO Invest Nyrt. commented on the mandatory public purchase offer made by Mevinvest Kft. belonging to the WING Group on September 10, 2024, on the basis of which the board unanimously does not recommend accepting the offer. As is known, the largest owner of AKKO Invest is currently Mevinvest with a 30.1 percent stake, which it intends to increase to over 33 percent, so it made a legally binding purchase offer at a price of HUF 266.1465 per share (the offer must be approved by the Hungarian National Bank, the procedure is in progress). Mevinvest belongs to the WING Group, a 100 percent subsidiary of WINGHOLDING Zrt. Mevinvest and WINGHOLDING are indirectly majority owned by Tibor Veres, the owner of the Wallis Group.