BUDAPEST (Reuters) – The European Bank for Reconstruction and Development is selling its 15% stake in Erste Group Bank’s Hungarian unit back to the Austrian group after the Hungarian government’s recent exit from the bank, a top EBRD official told Reuters.
“We received a call notice from Erste last Friday and are proceeding with the sale of our stake to the group, based on terms agreed during our 2016 investment,” EBRD managing director of financial institutions Francis Malige said on Wednesday.
(Reporting by Gergely Szakacs, Editing by Louise Heavens)
