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BlackRockʼs voting rights in Richter drop below 5%

Total voting rights held by U.S.-based global asset manager BlackRock in Hungarian pharmaceuticals firm Gedeon Richter have dropped below 5%, Richter announced on Wednesday, citing information it received from the investor on August 19.

According to information on the Budapest Stock Exchange (BÉT), shareholders with an ownership stake in excess of 5% included Hungarian National Asset Management Inc. (MNV, 15.25%) and the Maecenas Universitatis Corvini Foundation (10%) as of June 14, 2019.

The government announced plans in February to place the universityʼs assets into the foundation, as well as 10% state-owned stakes in MOL and Richter. Lawmakers voted in April to hand over the operation and assets of the university to the foundation from July 1. The stakes were transferred by MNV, which still has indirect control over the 10% stakes, noted state news agency MTI.