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MKB sold for 37B forints

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MKB sold for 37B forints

The MagyarNemzeti Bank said March 31 that Blue Robin Investments SCA, METISPrivate Capital Fund and Pannónia Pension Fund 45%, 45% and 10%, respectively,of MKB Bank Zrt. at apurchase price of 37 billion Hungarian forints for the 100% share.

The deal monitored by the European Commission is expected toclose by June 30, subject to closing conditions. The Hungarian central bankadded that three binding bids were received for the bank, and the highest pricewas offered by the winning consortium.

J.P. Morgan Ltd. acted in the sales process as financialadviser and the law firm DLA Piper Horváth és Társai Ügyvédi Iroda as legaladviser to the seller.

As of March 31, US$1was equivalent to 275.92 Hungarian forints.