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| VCP may increase its stake in FHB |
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Budapest, London, 17 December 2007 – VCP Finanz Holding Kft. (“VCP”) and HSBC Bank plc (“HSBC”) hereby jointly announce that VCP entered into a conditional forward transaction with HSBC.
Under this agreement, VCP may acquire up to 6,270,000 ordinary shares of FHB Jelzálogbank Nyrt. (FHB), constituting approximately 9.5% of the total issued shares in the bank, from HSBC, provided that VCP fulfils all regulatory requirements to acquire the respective amount of shares, in particular obtains an approval by the Hungarian Financial Supervision Authority to cross the applicable 10% and 15% ownership thresholds.
In connection with this transaction, HSBC acquired 6,270,000 ordinary shares of FHB to hedge its exposure.
“Despite the difficult global market environment, VCP decided to increase its investment in FHB. We were not only motivated by the current valuation of the company, but VCP remains committed to Hungary in general and in particular to FHB with its solid strategy and good prospects in the mid to long term. We welcome HSBC’s involvement in this transaction.” – Heinrich Pecina, senior partner of VCP commented.
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Quelle: VCP, 20071218 |
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© VCP AG 2010
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Impressum
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