Waberer’s to acquire majority stake in GYSEV Cargo

Waberer’s International is to acquire a 70pc stake in GYSEV Cargo, the listed Hungarian hauler said Monday.

Waberer’s, which signed an agreement to buy 62.5pc of the shares of GYEV Cargo on Monday, committed to raise the company’s capital by close to EUR 4,85m (HUF 2bn) to develop railway logistic infrastructure. The transaction will close at the end of the first half of 2025. GYSEV, the current owner of 100pc of GYSEV Cargo, will keep its 30pc stake in the target company after the transaction.

GYSEV Cargo is Hungary’s second largest railway transport service provider and can also provide services in Austria through its Austrian subsidiary Raaberbahn Cargo. GYSEV Cargo operates the container terminal in Sopron (W Hungary) at the Intermodal Logistics Service Centre, which is owned by GYSEV. It will also operate the intermodal container terminal under construction at the Debrecen-Macs Industrial Park railway station.

With the acquisition of a majority stake in the PSP Group earlier this year, Waberer’s also entered the Romanian market as a railway transport service provider so it now has operations in three countries.

Waberer’s said it is continuously considering business development opportunities in railway logistics.

Waberer’s majority owner is Viktor Orbán’s son-in-law, István Tiborcz, who has only a minimal stake as a private individual. Still, through two companies belonging to the BDPST group (Merkport Zrt. and Geraldton Invest Zrt.) owned by him, his interest exceeds 50 percent.

As we wrote a week ago, major renovation underway for Budapest’s historic Exchange Palace on Szabadság Square.