Group Five increases shareholding in Hungarian road concession company
JSE-listed Group Five will acquire an additional 10% stake, the acquisition stake, in Hungarian road concession company Mecsek autopalya koncesszios zrt (M6 Mecsek) for R125-million, it said in a statement on Thursday.
Following the acquisition, Group Five will on-sell 49.99% of the acquisition stake to Aberdeen Infrastructure Funds (AIF) for R62.57-million, resulting in a net acquisition consideration payable by Group Five of R62.59-million.
Under a joint venture agreement between Group Five and AIF, the latter in December acquired a 49.99% stake in Group Five’s European investment and concession assets within the Intertoll Europe underlying public–private partnership (PPP) project’s investment portfolio for €43-million, or R633.2-million.
Meanwhile, Group Five on Thursday also said it expected to report fully diluted headline losses a share and headline losses a share of 300c to 320c for the six months ended December 31.
It will release its interim results on February 22.
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