CP Holdings Ltd. Announced yesterday during the trading that it has purchased 566,695 Danubius shares from two London-based funds, which together represent 6.84% of the hotel company. After the deal the total direct and indirect interest of Mr. Scherrer, owner of CP Holding grew to 63.09% from 55.93%.
Our view: Please note that CP Holdings launched public purchase offer for the outstanding shares of Danubius at HUF 5,825 per share last October. According to the Hungarian rules CP Holding can now buy Danubius shares on the market without being forced to another public bid. Danubius share price jumped 3.6% on the news in the afternoon trading yesterday, and we can imagine further speculation today.