Osterreichische Post to buy out Feibra Magyarorszag
Austria’s postal company Osterreichische Post informed competition authorities on Tuesday that it is purchasing Hungary’s largest distributor of advertising fliers, Feibra Magyarorszag, the Austrian press agency APA reported. Osterreichische Post already owns 75pc of Feibra Magyarorszag’s Austrian parent and is planning to buy the rest.
Both Osterreichische Post and Feibra declined to comment on news of the deal when asked by APA on Tuesday. The deal is expected to be completed in August at the earliest.
Feibra CEO Tibor Varga declined to comment on news of the deal, but told MTI that Feibra had sales of HUF 1.3bn in 2004, and was planning sales of HUF 1.5bn in 2005. He said Feibra controls 30-40pc of the Hungarian market.
According to the Feibra website, the company distributes 23 tonnes of advertising fliers each day. Last year the company distributed a total of 413m fliers.
APA said Osterreichische Post was planning to enter the Czech, Romanian and Bulgarian markets, and was planning to expand in Slovenia, Croatia and Slovakia.
(HUF 100 = EUR 0.4043)
