State-owned pawn broker BÁV buys peer OREX-Zálog
State-owned pawn broker BÁV has signed a contract to buy peer OREX-Zálog, BÁV said on Friday, according to news agency MTI. The transaction still needs to be approved by the National Bank of Hungary (MNB).
BÁV has 96 pawn shops in the country, including 14 which are run as franchises. OREX-Zálog has 30 pawn shops, including 20 in Budapest.
BÁV had retained earnings of HUF 744 million on revenue of HUF 5.6 billion last year.
It employed an average of 420 people during the year.
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