MiddleCap sold a majority stake in its construction firm Sytiq to managers
MiddleCap (Matúš Výboh) sold a majority stake in its construction firm Sytiq to its four managers Juraj Kotúč, Michal Bedaj, Zdeno Kuna, and Mikuláš Čurika. They used to own 30%. The deal is financed by a loan from former J&T partner Martin Fedor. Výboh explains the sale by the fact that it is the optimal time to monetize the company. The real reason may be that the firm is being hampered by corruption allegations against his father, Miroslav Výboh.
Sytiq has contracts to build several large residential and retail projects (Eurovea, Pribinova Y, Ovocné sady, and Eperia). In 2021, it reported €26.8m revenues. MiddleCap has three real estate projects in Berlin and two in London, as well as the Fokus, Fokus Optik, and Future Vision chains of opticians.
Comments