CEESEG and OeKB sell stakes in Budapest Stock Exchange to Hungarian National Bank

UniCredit Bank Austria AG
Summary: 
CEESEG and OeKB are selling their stakes in Budapest Stock Exchange to the Hungarian National Bank
Tue, 24/11/2015

 

The holding company CEESEG Aktiengesellschaft (CEESEG) and Oesterreichische Kontrollbank Aktiengesellschaft (OeKB) today announced the sale of their 50.45% and 18.35% stakes, respectively, in Budapest Stock Exchange (BSE) to the Hungarian National Bank, which already holds 6.95%. Upon approval by the competent authorities, the transaction is expected to be completed by the end of 2015. The parties agreed not to disclose further details and the price of the transaction.

The stock exchanges plan to keep operating on a joint trading technology, which provides BSE with optimal linkage to international markets. The partnership between BSE and CEESEG through its Austrian subsidiary Vienna Stock Exchange is thus expected to continue, with the latter providing the trading system, interfaces, software and expertise.


Impact on investors:
Upon regulatory approval, the Hungarian National Bank will become majority shareholder of Budapest Stock Exchange by holding over 75% of its capital.