NBH acquires majority stake in Budapest Stock Exchange

Budapest, November 24 (MTI) – The National Bank of Hungary (NBH) has acquired a majority stake in the Budapest Stock Exchange (BSE), the central bank announced on Tuesday.

The NBH concluded the related contract with CEESEG, a unit of the Vienna Stock Exchange, and the Osterreichische Kontrollbank, which together used to hold 68.8 percent of BSE’s shares.

The central bank already held 6.95 percent of the shares. The transaction will increase its stake in the Budapest bourse to 75.75 percent.

The NBH said they paid 3,550 forints per share or 13.2 billion forints (EUR 42.4m) for the whole packet, confirming the price named by the online news portal Napi.hu which reported the deal earlier.

The price was based on the evaluation of an internationally respected advisor, and it reflects the nearly 47 percent stake the Budapest Stock Exchange holds in the Hungarian central clearing house and depository Keler, too.

As the agreement is subject to approval by the Economic Competition Office, the transaction is expected to be concluded by mid-December this year.

Source: http://mtva.hu/hu/hungary-matters