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Gov't Privatizing Stake in MÁV Vagon

Deals

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The government has decided to sell around 75% of MÁV Vagon, the rolling stock maintenance and manufacturing unit of the state-owned MÁV-Volán group, to privately owned Magyar Vagon, MÁV-Volán said on Tuesday, according to a report by state news wire MTI.

MÁV Vagon will remain a unit of MÁV-Volán and its staff will not be affected by the ownership change, MÁV-Volán said.

MÁV Vagon had a net sales revenue of HUF 43.8 billion last year, public records show.

Magyar Vagon is the owner of rolling stock maker Dunakeszi Jarmujavito, based on the outskirts of the capital.

The contract on the sale is expected to be signed in mid-October.

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