Harlach Buys Hungarian RE Firm

Harlach AG, a property investment company based in Zurich, Switzerland, has purchased Pacont Kft, a real estate company based in Budapest, Hungary, from ABB.Pacont said the transaction benefits Harlach by allowing the company to access Hungary's property markets, which have been appreciating in value since the country became part of the European Union. The deal also allows ABB to divest what it considers to be a "noncore" asset, according to Pacont. Pacont can be found online at http://www.pacont.com.