Owner was the state of the lake navigation
The Balaton Shipping Zrt (Bahar) All government owners (21 municipalities) signed a contract with the Hungarian National Asset Management Zrt, free of charge is transferred to the state nearly 35 percent of shares of HUF 1.42 billion capital increase, subject to elengedéséért under which - Balázs Balassa said, chairman of the regional government in compression Balaton resort Association, one of the shareholders, the mayor of Szigliget MTI on Friday.
He said that during the negotiations that took place until the January 31st deadline, the owner municipalities tried to ensure that the shares of the shipping company could not be privately owned in the future.
Adrián Szajcz, the leader of the Fidesz faction in Siófok, who participated in the discussions, told MTI that Siófok, which has the largest ownership share of 44.2 percent, wanted to fulfill its HUF 776 million capital increase obligation all along. At the same time, it should also be seen - he said - that Bahart's port and ship park, which also performs public tasks by operating passenger ships, needs to be developed as soon as possible, which was not ensured with the previous ownership structure. As he explained, the state did not leave the local governments alone, since in a 2016 decision it designated Bahart significant development resources. The acquisition of property by the state is also important because of the integration plans for public transport, he added.
He also reported that the demands made by Siófok during the agreement with the state were fulfilled: the municipalities' right of pre-emption in future share sales was retained, the company's headquarters remained in Siófok, and a board member and a supervisory board member were provided to the Siófok municipality.
According to Adrián Szajcz, the future and development of Bahart is not only of local importance, but also in the interest of the entire country, and a reassuring agreement has been reached for everyone, so the Balaton shipping can enter a new phase. This year's budget of Siófok has been enriched by HUF 776 million thanks to the agreement, which he intends to spend on the development of roads and sidewalks and the construction of a community civic center, he added.
In 2008, 22 Balaton municipalities became the 100 percent owners of Bahart, then they received a 49 percent ownership share of the company from the state for free, in addition to the 51 percent share they had already received. (Balatonvilágos sold all its shares in the meantime, leaving 21 owner municipalities.)
In exchange for the 49 percent asset subsidy, the state obliged the municipalities to implement a HUF 580 million capital increase within a short period of time, and then to provide the company with a HUF 1.424 billion capital subsidy by the end of October 2012. At their request, the municipalities were granted a five-year grace period for the capital allowance to be paid in proportion to their ownership share, which deadline was modified several times. The most recent one expired on January 31, 2019.
Pursuant to the government's decision published on January 25, 2019, the owner municipalities could choose to either fulfill their obligation, or the state would waive it, but in exchange they would have to hand over to the state a block of shares in the company with a share capital of HUF 4 billion.
The ownership rights of the package of Bahart shares returned to the state can be exercised by the Magyar Turisztikai Ügynökség Zrt.
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