State Selling Stake in Magyar Posta Life Insurance Units
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State-owned Corvinus International Investment has launched the sale of its 66.9% stakes in the life and general insurance units of postal company Magyar Posta, according to Menedzsment Fórum.
Consultancy Deloitte, which is managing the sale, has contacted 10 local, Hungarian- and foreign-owned insurers as potential buyers, Corvinus said yesterday. Indicative offers are expected to arrive by the end of October, and the binding offer phase could finish by the end of December.
The contract on the sale could be signed early in 2024, Corvinus said. Corvinus announced earlier in September that the state would part with the stakes in the insurance businesses.
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