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

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.