Germany’s BayernLB has announced it is set to sell its Hungarian subsidiary bank, MKB, to the Hungarian government for EUR 55 million (HUF 17 bn), according to portfolio.hu. By the sale BayernLB will be fulfilling all of the EU’s main requirements regarding disposals of investments – and well before the deadline at that. In return for the purchase price, BayernLB will waive EUR 270 million (HUF 84 bn) in claims due from MKB, it said in a press release yesterday. The deal is set to close by September 2014. By selling MKB, BayernLB will be able to free up enormous portions of capital it has been using to cover risk. The transaction will therefore pull BayernLB’s hard core capital ratio down only by a negligible 0.3 percentage points, the bank said.
PSD marks three years since Ungureanu Gov’t was unseated by a no-confidence vote, PM Ponta reviews achievements of his governing
Sergio Mattarella-Klaus Iohannis meeting in Rome: A new occasion to reconfirm the special relationship between Italy and Romania
Thenjiwe Ethel Mtintso, the Ambassador of the Republic of South Africa to Romania: “Advances made by South Africa since 1994: Celebrating the Third Decade of Freedom through accelerating radical economic transformation”
Bogdan Aurescu, Romania’s Minister of Foreign Affairs: Romania, a long time partner of South Africa in its efforts to achieve a better tomorrow
The Nine O’Clock Supplement
Nine O’Clock Announcements
5, Intrarea Armasului, District 1, Bucharest, Telephone: 317.71.36 / 317.71.35, Fax: 317.71.33 / 317.71.39
Nine O`clock Ads
Subscribe to RSS
Subscribe to RSS or enter you email to receive newsletter for news, articles, and updates about what's new.