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Hungary’s Optima buys controlling interest in GTC

Optimum Ventures Private Equity Fund (owned by Optima, the fund manager of the National Bank of Hungary’s foundations) and an affiliate of Lone Star Funds (an American private equity firm) have entered into a conditional share purchase agreement, pursuant to which Optima will acquire a majority shareholding (61.49 percent) in Globe Trade Centre S.A., a Polish company trading on the Warsaw Stock Exchange and Johannesburg Stock Exchange.

An affiliate of Lone Star Funds initially acquired a stake in GTC S.A. in 2013 and increased its shareholding over time. Since 2013, GTC S.A. has successfully realigned and re-focused its strategy as well as optimized its portfolio through select dispositions, value-enhancing acquisitions, and new development projects.

The GTC portfolio comprises commercial buildings (in particular office buildings and retail complexes) and several development projects in Poland and other capital cities in the CEE region (in particular Budapest, Bucharest, Belgrade, Zagreb, and Sofia).

Optimum Ventures Private Equity Fund, an Optima Investment Ltd group entity. Optima Investment Ltd is a Hungarian long-term investor in high–quality, income-generating real estate assets in Hungary and the CEE region. Optima was established in 2015 with the objective to manage funds of the foundations of the National Bank of Hungary.

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