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Raiffeisen Investment wins significant mandate for privatisation of mortgage bank, FHB, in Hungary

01 Jun 2007

Raiffeisen Investment was awarded the advisory mandate by the State Privatisation and Holding Company of Hungary to sell the partially state-owned Hungarian mortgage bank FHB Jelzalogbank Nyrt, in the face of strong competition from both local and international firms.

The advisory team will comprise both Raiffeisen Investment and Raiffeisen Bank Hungary as well as law firm, Siegler, Weil, Gotshal & Manges.

The Hungarian state owns 54.1% of FHB. Of this, 50% plus one-vote is series "A" stock and the remaining 4.1% is made up of series "B" shares. Series "A" shares were listed on the Budapest Stock Exchange in 2003.

The FHB transaction will be a landmark transaction within the financial services sector in Hungary due to its size and leading market position.


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