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Hungary: EBRD sells Hospinvest stake – extended

  The European Bank for Reconstruction and Development (EBRD) on Thursday said it sold its stake in Hungary’s Hospinvest, a privately-owned company set up to operate state-owned hospitals.

The EBRD sale, which was on the agenda for half a year, was made to pave the way for a professional investor, Hospinvest chairman Gábor Kollányi told MTI. Following the transaction, Hospinvest’s shares were held by domestic legal entities, but no private individuals, he added.

The EBRD took a 30% stake in Hospinvest for €4 million in 2007, at the start of a wide-ranging healthcare reform program. The reform measures were later scrapped after being rejected in a referendum, which had “serious consequences” for Hospinvest’s expansion prospects, the bank said. (MTI-Econews)