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Hungary, EBRD to acquire stake in Erste unit -website
February 9, 2015 / 8:22 AM / in 3 years

Hungary, EBRD to acquire stake in Erste unit -website

BUDAPEST, Feb 9 (Reuters) - The Hungarian government and the EBRD will acquire a stake in the Hungarian unit of Austrian bank Erste via a capital increase, business website Portfolio reported on Monday citing unnamed sources.

A government spokeswoman declined comment.

“This afternoon there will be a press conference by the government of Hungary together with EBRD, where an agreement regarding the banking sector there will be announced,” an Erste spokeswoman said.

Prime Minister Viktor Orban, Erste Group Bank Chief Executive Officer Andreas Treichl and European Bank for Reconstruction and Development President Suma Chakrabarti will hold a news conference at 1500 GMT. The agenda of the news conference has not been published. (Reporting by Krisztina Than and Michael Shields in Vienna; editing by Jason Neely)

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