Investment in the future of books – MCC becomes the majority owner of the Libri Group
The Mathias Corvinus Collegium Foundation’s subsidiary has signed an agreement with SQ Invest Kft. on the sale and purchase of a 67.48 percent stake in the Libri Group. With the transaction, MCC, the indirect minority owner until now, becomes the owner of 98.41 percent of the dominant player in the domestic book trade and publishing market. The composition of the company group’s management remains unchanged, and the former majority owner helps the further development of the Libri Group as a board member.
MCC has been a minority shareholder of the Libri Group since April 2021. During this period, the corporate group has shown enormous progress and has become even more successful commercially and financially. By increasing its stake to 98.5 percent, MCC intends to continue to provide added value to the corporate group as a strategic financial investor, and professional management will continue to be provided by management with decades of experience in the book market. In addition, the owner of the former majority shareholder SQ Invest, Ákos Balogh, will assist the work of the Libri Group as a board member.
“Thank you to all Libri employees for the past 30 years, without them this company would not be where it is now. I am glad that I could sell the company to an investor who is committed to the Hungarian book market. I will not leave the company, I will continue to help Libri as a board member”
– stressed the founder Ákos Balogh.
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