Announced
Completed
Financials
Tags
Single Bidder
Majority
Acquisition
Austria
Full Line Insurance
Domestic
insurance services
Hungary
Friendly
Private
Completed
Synopsis
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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