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Rába Holding Utilizes Immovable Property

D&T
December 4, 2019

Following preliminary negotiations Rába Automotive Holding Plc. received an offer from one of Europe’s leading multinational trading companies to buy a part of its immovable property in downtown Győr. The part of the area known as Városrét, dedicated for commercial use, is going to be utilized as a result of years of preparatory work and in line with the previous development plans.

At the beginning of the 2000s, Rába concentrated its Győr activities on one site in accordance with the requirements of its operation, freeing up a 43-ha area in the immediate vicinity of downtown Győr. In order to achieve the highest possible property value the company emptied the areas with a strong potential, lying on the bank of the Moson-Duna, in preparation of their subsequent sale.
Earlier, a complex plan was made to kickstart the development of Városrét, and Rába, together with real estate experts, has been working on finding investors with a view to the utilization of the area.

As per the offer received, the sale, which is expected to exceed HUF 2 billion, is going to be carried out in the part of the property dedicated for commercial use, taking account of the integrity of the whole area, a statement by the compnay says.

ˮWe are finalising the documents of the deal in the coming months, which includes the approval on the part of our partner. The final adoption of the transaction drawn up by the parties is planned to take place at the AGM of Rába next April. The first step in the utilization of the Városrét property can be taken with the approval of the shareholders, which, we hope, might give a boost to the further sale of the quality areas,ˮ the Chairman-CEO of Rába Automotive Holding Plc., István Pintér emphasized.

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