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Konzum Group acquires MKB employee shares

Deals

Listed holding company Konzum said on Monday that it would indirectly acquire a 9.62% stake in MKB Bank from the latterʼs employee stock ownership program (ESOP), pending regulatory approval by the National Bank of Hungary (MNB).   

The transaction involves 9,620,597 MKB shares and should be finalized by September 15, Konzum said in a separate statement on the Budapest Stock Exchange, cited by state news agency MTI.

Konzum Group will acquire the shares through Rkofin Investment and Asset Management, which is owned by Metis 2 Private Capital Fund, in turn managed by Konzum Investment Fund Management, a subsidiary of Konzum.

Konzum also revealed that as a demerger Metis Private Capital Fund has established Eirene Private Capital Fund - to be run by Minerva Fund Manager - as a shareholder holding 9.99% of MKB Bank. 

As a net result of the two actions, the combined stake of Konzum in MKB held through Metis funds will diminish by 0.37 of a percentage point to 48.63%, MTI noted.

Following the transactions, Metis Private Capital Fund will hold a 35% stake in MKB, Blue Robin Investments 32.9%, Rkofin 13.62%, Eirene 9.99%, MKBʼs ESOP organization 5.38%, and Pantherinae Financial 3.1%.

Konzum also informed the market on Monday that the exclusive owners of investment units issued by Metis funds, both managed by its subsidiary Konzum Investment Fund Management, are investor Lőrinc Mészáros and Beatrix Csilla Mészáros.

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