State sells Richter stake acquired in pension funds transfer

Deals

The Hungarian state has sold a stake of more than 5% in drugmaker Richter acquired in a de facto nationalisation of private pension fund assets in the middle of 2011, daily Napi Gazdaság said. Most of the Richter shares went to foreign investors, whose stakes in the company rose to a combined 68% from 61% a year earlier. The about 5% stake in OTP Bank the state acquired in the pension funds transaction fell by a negligible amount, the paper said. Almost all private pension fund members opted to return, with their pension savings, to the state pillar earlier.

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