Hungarian companies purchasing other companies accounted for 52% of all merger and acquisition (M&A) activity in Hungary in 2005, up from 43% in 2004, consultancy PricewaterhouseCoopers (PwC) said in a survey of M&A activity in the region published on Thursday.
PwC estimated M&A transactions were worth $4.6 billion in Hungary last year, up from $3.3 billion a year earlier. The number of transactions increased to 231 from 115 during the same period. The average size of each transaction fell to $27 million in 2005 from $38.7 million in 2004.
The biggest M&A transaction in Hungary in 2005 was the purchase by PNB Paribas of a 7% stake in Hungarian oil and gas company Mol Rt for $271 million. The second biggest deal was the purchase of the Pólus Center shopping center in Budapest by the ING Eastern European Fund for $110 million. The third largest was CE Oil and Gas's purchase of 15.4% of Hungarian chemicals company TVK Rt for $102 million.