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ÁPV picks FHB privatization advisor

The State Privatization and Holding Rt (ÁPV) has received six bids in a tender for consulting firms to act as financial advisor in the privatization of Land Credit and Mortgage Bank Rt (FHB), business daily Napi Gazdaság reported citing newswire Bloomberg. The state will sell 2.9 million FHB worth Ft 45 billion representing 50% of voting rights plus one vote. It is possible that the stake will be sold in the form of convertible bonds rather than floating them on the stock market. In this case, the state could remain the majority owner for five more years.