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Budapest Waterworks seeks loan to repay city council HUF 12 bln

The Budapest Waterworks has called an accelerated negotiated procedure for a bank loan to repay HUF 12 billion it borrowed from the local council to buy back 25% of its shares from France's Suez Environment and Germany's RWE last summer, daily Népszabadság said on Monday.

The deadline for declaring interest in participating in the procedure is January 21. The waterworks aims to wind up the procedure by the end of February, the paper said.
The waterworks was originally to have signed a contract on the loan with OTP Bank, but the bank pulled out at the last minute.