Hungary to Privatize Defense Assets in Win for Orban-Backed Firm
Hungary plans to sell company holdings belonging to its state defense industry conglomerate to a unit of telecommunications group 4iG Nyrt, according to statements from the company and the Economy Ministry.
Under the proposed deal, 4iG will absorb stakes in defense industry joint ventures held by state-owned N7 Holding, in a two-step transaction. Subsidiaries involved in the transaction include Rheinmetall Hungary Munitions Zrt, Rheinmetall Hungary Zrt and Colt CZ Hungary Zrt, alongside other producers of ammunition, small arms and military hardware.
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