Hungary pays €7 mln to buy out Bombardier
Hungary will pay €6.9 mln to buy out the foreign-owned stake in Bombardier Transportation MAV Hungary, a joint venture between the rolling stock maker headquartered in Germany and the Hungarian railway company, daily Népszabadság said yesterday, citing shareholding employees of the joint venture.
The National Development Ministry announced the decision late in September but did not disclose the purchase price for the 64.9% foreign-owned stake. MAV holds 25% of the JV. The JV had a net loss of HUF 260 mln on revenue of HUF 6.7 bln last year. It finished the year with net assets of HUF 3.2 bln (€10.4 mln).
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