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Announced

Completed

Corvinus completed the acquisition of a 45% stake in Hungarian VIG companies for $396m.

Financials

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Transaction Value£291m
Consideration TypeCash
Capital Owned-
Capital Bid For45%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Single Bidder

Majority

Acquisition

Austria

Full Line Insurance

Domestic

insurance services

Hungary

Friendly

Private

Completed

Synopsis

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Corvinus, a Hungarian state holding, completed the acquisition of a 45% stake in Hungarian companies from VIG, an international insurance group, for $396m. The Hungarian VIG companies will be held through the Hungarian VIG holding company and two Dutch holding companies. VIG will retain a controlling majority interest of 55% in these three holding companies. In a next step, it is planned to merge the three holding companies whereby the Hungarian VIG holding company is designated as the remaining central steering unit.

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