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State acquires majority stake in Raba in public purchase offer

The Hungarian National Assets Management Company (MNV) raised its stake in vehicle and vehicle parts maker Raba to 73.84% in a public purchase offer ended Monday, National Development Ministry state secretary Janos Fonagy said on Wednesday.

MNV’s voting rights in Raba rose to 76.97%, Mr Fonagy said.

The transaction must still be approved by the EU’s competition authority.

The public purchase offer started on November 11. The state held a combined 16.15% of Raba shares when it made the offer.