László Szíjj secures 32.9% stake in MKB Bank

Deals

László Szíjj, the owner of construction company Duna Aszfalt, has acquired a 32.9% stake in MKB Bank that was indirectly owned by BanKonzult Pénzügyi és Gazdasági Tanácsadó, a company owned by Tamás Szemerey, who also owns NHB Growth Credit Bank, state news agency MTI reported MKB as saying late Monday.

Information on MKBʼs ownership structure posted on the lenderʼs website shows that Metis Private Equity Fund holds 35% of MKB shares, Blue Robin Investments - the company sold to Szíjj - holds 32.9%, RKOFIN holds 13.6%, Eirene Private Equity Fund holds 9.9%, MKBʼs employee stock ownership plan (ESOP) holds 5.4%, and Pantherinae Pénzügyi holds 3.1%.

MKB Bank was restructured by the National Bank of Hungary (MNB) after its acquisition by the state in 2014, then privatized in 2016.

According to a report by news portal Index.hu, current financial issues at NHB Bank were behind Szemereyʼs sale. The report also notes that the buyer, Szíjj, has a good relationship with Lőrinc Mészáros, the investor with close ties to the government who was declared Hungaryʼs richest man in the New Year.

Back in December, the MNB ordered restrictions on withdrawals of over HUF 7 million from accounts at NHB Bank for a period of 30 days after the lenderʼs liquidity position "deteriorated significantly."

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