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Shareholder off-loads stake in Hungary's FHB Jelzálogbank


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Shareholder off-loads stake in Hungary's FHB Jelzálogbank

Vienna Capital Partners unit VCP Finanz Holding Vagyonkezelo Kft. sold its entire stake in FHB Jelzálogbank Nyrt. to Magyar Takarékszövetkezeti Bank Zrt., or Takarékbank, in an outside-the-market transaction that took place Dec. 9.

The transaction covers 15,970,000 shares of FHB Jelzálogbank with a par value of 100 Hungarian forints apiece, representing a 14.72% ownership stake and 16.98% of voting rights in the company. The financial details of the deal were not disclosed.

Following the transaction, Takarékbank owns 20.44% of the voting rights in FHB Jelzálogbank, the latter said Dec. 9.

In October, FHB Jelzálogbank Chairman Zoltán Speder resigned and sold most of his nearly 15% stake in the bank to savings and loan groups Fókusz Takarék and B3 Takarék.

As of Dec. 9, US$1 was equivalent to 298.97 Hungarian forints.