Hungarian real estate holding acquires majority stake in Gránit Bank – Reuters

Hungarian real estate holding company BDPST Zrt agreed to acquire a 57% stake in Gránit Bank Zrt., with the transaction pending approval by Hungary's central bank, Reuters reported Dec. 30.

Financial details of the deal were not disclosed. BDPST is acquiring the stake from consulting firm E.P.M., which is controlled by Eva Hegedus, Gránit Bank's chair and CEO, the newswire noted.

The new owner will support the bank's strategy as a long-term financial investor and plans to increase the lender's capital, Reuters said, citing BDPST.

Founded in 2015, BDPST is owned by Istvan Tiborcz, son-in-law of Hungary Prime Minister Viktor Orban, according to Reuters.