Balásy Gyula offers billions of assets to Hungarian state, proposal rejected

Hungarian billionaire Balásy Gyula proposed transferring a portfolio of companies and private‑equity holdings to the state. The assets include Lounge Design Kft., New Land Media Kft., Lounge Event Kft. and Visual Europe Zrt., as well as investments in the Prime Tech, Prime Peak and Prime Target funds worth more than 14 billion forints and 6.5 billion forints respectively. The offer also covered his share in the Euronews television channel, a venture that was previously financed in part by state‑linked funds and a Portuguese businessman close to former Prime Minister Viktor Orbán. Prime Minister Magyar Péter declined the proposal. Authorities have not commented on the offered assets, while Balásy faces a police investigation over alleged mishandling of his business group and money‑laundering suspicions.