The Hungarian National Assets Management Company (MNV) raised its stake in vehicle and vehicle parts maker Raba to 73.84% in a public purchase offer ended Monday, National Development Ministry state secretary Janos Fonagy said on Wednesday.
MNV’s voting rights in Raba rose to 76.97%, Mr Fonagy said.
The transaction must still be approved by the EU’s competition authority.
The public purchase offer started on November 11. The state held a combined 16.15% of Raba shares when it made the offer.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
