ADVERTISEMENT

Single bidder for state’s stake in Takarékbank

Deals

The government-appointed committee overseeing a tender for the state’s 54.85% share of saving cooperative central bank Takarékbank today announced that a single bidder put in for the stake, “a party with a majority of Hungary’s savings cooperatives,” according to an official statement.

The deadline for the tender was yesterday and the sole bid was submitted despite three parties initially showing interest.

The offer is set for review by the middle of next week, with negotiation on the sale to be finalized by March 20 at earliest.

Takarékbank was taken over by the state last year as part of the sitting government’s efforts to integrate and streamline the country’s savings cooperative subsector.

Additionally, announced yesterday was the acquisition of a 25% stake in Takarékbank by FHB mortgage bank. An official statement explainted that FHB had acquired the 25% stake through a nominal-value payment of HUF 252 million on February 3 as part of the share-capital increase that Takarékbank approved at its general meeting.

ADVERTISEMENT

Rate-setters augur slower decline in CPI in 2022 Analysis

Rate-setters augur slower decline in CPI in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 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.