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PE fund Metis to buy up to 50% in Hungary’s MKB Bank

2325

euro-1166051_1280Metis, a new Hungarian private equity fund with €100m in capital, is gearing up to to acquire a controlling stake in MKB Bank which is being sold by the government.

Adam Balog, CEO of MKB told Reuters the fund will buy between 40 per cent and 50 per cent. 

The remaining stakes in MKB will be bought out by Luxembourg-based fund Blue Robin Investments, which is looking to get 40 to 50 per cent in the bank and Hungarian pension fund Pannonia, which is aiming to get 10 per cent, Balog told the news agency.

The European Bank for Reconstruction and Development (EBRD) may also be interested to invest in MKB but at this point it is not clear whether it will get involved, Reuters quoted the CEO as saying. 

The Hungarian government took over MKB from German landesbank BayernLB for €55m in 2014 and last year the bank was put under the oversight of the National Bank of Hungary.

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