State-owned MKB Bank will be sold to a syndicate comprised of Blue Robin Investments S.C.A., METIS Private Capital Fund and Pannonia Pension Fund for HUF 37 billion. The National Bank of Hungary (NBH) selected the highest bid out of three received during the binding bid submission phase of a tender. The sales process, closely monitored by the European Commission, is expected to be closed by June 30, following fulfilment of the closing conditions and payment of the purchase price. The obligation to sell MKB was prescribed by a resolution of the European Commission. NBH took control of MKB last year after the Hungarian state bought it from Germany’s BayernLB in 2014. MKB’s distressed assets have since been spun off and last year the European Commission approved its restructuring plan.
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