MNB Lifts Suspension of Clearance for Alteo Acquisition

MNB

The National Bank of Hungary (MNB) has lifted the suspension of a clearance procedure for a mandatory public purchase offer for the shares of alternative energy company Alteo.

Alteo said in an announcement posted on the website of the Budapest Stock Exchange that it was informed by brokerage Equilor, which is organizing the public purchase offer, that the central bank and financial market regulator had decided to continue the clearance procedure.

The MNB had suspended the purchase offer a month earlier until the Hungarian Energy and Public Utilities Regulatory Office (Mekh) weighed in on the transaction; Mekh consented to the buyout in mid-January.

Hungarian oil and gas company MOL announced late in December that it is partnering with Diófa Asset Management and Indotek-Investments to acquire a majority stake and joint control in listed Alteo.

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