Radovan Vítek, the owner of CPI Group, announced plans to buy at least a 30-percent stake in Ablon Group Limited, a Hungarian property developer and investor active in the CEE region. CPI has not ruled out the possibility of acquiring a majority stake in Ablon or even taking over the company completely. CPI would restructure the whole group and start negotiations with the banks financing Ablon. Ablon’s property portfolio is worth €389m. Vítek said that in the future CPI, Ablon and Orco (another developer Vitek has his eye on) could work as partners on acquisitions, development and facility management.
