Hungarian billionaires competed to buy Waberer’s

Article by Péter Szakonyi

Based on the information in our document, the purchase prices quoted for most of Waberer’s International Plc. The logistics company, which is listed on the Budapest Stock Exchange, intends to sell the Mid Europe Partners fund, which owns 72 percent of the shares. In recent years, the dominant owner announced in a semi-open tender for five years the underperforming operator and the group’s insurance company, but profitable.

According to Napi.hu, among the guests / stakeholders was a company led by Tamás Szemerey and his nephew, Bálint Révész and György Wáberer, the former owner. In addition to them, Tamás Leisztinger appeared, who so far has not had a transport or logistics company in his field of interest. In addition, Jelli has a company called Dániel Indotek, which until now has been known for its activities in the real estate market, but considering its important logistics portfolio, it seems obvious to enter the transportation industry as a professional investor. Each of them is on the 100 richest list this year. (In the ranking published in June, Dániel Jellinek was in eighth place, György Wáberer in 13, Tamás Leisztinger in 14, Bálint Révész in 17 and Tamás Szemerey in 91 on the list of wealthy people). with the possibility.

The sixth possible buyer, Tamás Illés, who made an offer with Illés Holding, is also considered a professional. West-Bridge operates 400 trucks and has more than half a dozen companies, including a rail transportation company.

It was previously reported in the press that Mid Europa Partners was evaluating the possibility of selling its package to the listed company, this was later confirmed by the company in a statement. It was later written that “Mid Europa confirmed to Waberer’s that it had commissioned Rothschild to assist it in evaluating strategic options for its investment in Waberer’s, including the sale of its stake in the company. However, it is not certain that the current stake from Mid Europa as a whole, or even sells part of it. “

Among those who appeared in the data room – we know – that György Wáberer and Tamás Leisztinger did not make an offer at the end, and Tamás Szemerey also resigned due to lack of time. The evaluation of the offers is still in progress; Applicants we have contacted have not yet received an official notification that this will be closed.

If a buyer buys the entire package, current regulations require the winner to make a mandatory takeover bid for the 28% stake in the public domain. With this, the final amount paid by the company could increase considerably, the scope of which depends on the market price of Waberer’s shares. However, if the business is sold to multiple customers in parts, this may not be the case.

Mid Europa Partners would have sold 8.64 million shares when the company went public, but retail and institutional investors were not very active even then – there were only 1.8 million buyers. The price at the time of introduction was hovering around HUF 5,100 per share, which fell continuously to the fifth (the price of the paper fluctuated around HUF 1,100-1250 last month). The company approved its 2019 IFRS annual report with a total balance of 439,855 million euros and a loss of 37,029 million euros.

Our newspaper also contacted the public company regarding our information, which we were informed of its publication at the end of July quoted in the article, the main owner did not inform them of their additional information.