Hungarian State Secretly Buys Textbook Publisher
- 3 Apr 2014 9:00 AM
The state purchased primary schools textbook publisher Apáczai in great secrecy this week, several sources confirmed to Népszabadság on Wednesday. The funds necessary for the deal were raised by the cabinet in a resolution approved on March 20.
One of the provisions envisaged Ft 9 billion. Unofficial sources said the publisher was sold at below market value.
Apáczai Kiadó was founded in 1990 and went on to become the second largest private book publishing company in Hungary by 2008. Annual turnover now exceeds Ft 2.5 billion.
The company has 16% of the Ft 17.3 billion textbook market. It has 35-40% of the textbook market for the first four grades and 25-30% of that of the fifth to eighth grades.
Source: Hungary Around the Clock
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