Lőrinc Mészáros’s Appeninn to acquire resort on Lake Balaton

Listed holding company Appeninn on Thursday said it agreed to acquire 74.99 percent of Pro-Mot Hungaria, a joint holding of Israeli property developers Shikun and Binui and AFI Group which owns a resort on Lake Balaton.

Under the agreement, signed on July 25, Appeninn will acquire 37 hectares of lakefront property that comprise Club Aliga, a former resort for officials of the Hungarian Socialist Worker’s Party, as well as asset management rights for another 10 hectares attached to the resort.

Appeninn is controlled by the Hungarian investor Lőrinc Mészáros, who is one of the closest friends of PM Orbán.

As we wrote before, Lőrinc Mészáros, along with his family, is probably one of the wealthiest people in Hungary. According to the estimation, former mayor of Felcsút, and his wife and children possess as much money (if not more) as the entire fortune of Sándor Csányi, who has been on the top of the list for years. However, the sum of the Mészáros family’s money is added up only from their stocks, not mentioning other goods, read more HERE.

The transaction, which Appeninn is making through its wholly-owned unit Appeninn BLT, is expected to be closed by December 20, 2018.

Pro-Mot Hungaria acquired ownership of the resort and management rights for 49 years for the attached properties from the Asset Directorate of the State Treasury in 2007, public records show.

In a presentation of its business plan published in June,

Appeninn put the gross asset value of its portfolio, which included 39 commercial properties at the time, at just over 101 million euros.

The properties had gross leasable area of more than 82,000sqm.

Photo: MTI (illustration)

Source: MTI