December 22nd, 2008

State to auction off 30 more minority stakes starting next month

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The state will put a further 30 of its minority stakes in companies with a combined starting price of HUF 1.747bn up for auction on January 27, the National Asset Management Company (MNV) told MTI on Friday.

The stakes up for sale include a 0.59pc stake in the Matrai Power Plant and a 0.81pc stake in the regional gas distributor Tigaz among others, the auction invitation published on MNV’s website www.mnvzrt.hu shows.

MNV’s initial auction of the minority company stakes took place in June, when it offered 33 stakes at a starting price of HUF 270m, selling 28 of them for a combined hammer price of HUF 242m.

At the second auction in October, MNV offered 14 minority stakes for a combined HUF 615m, selling seven of the stakes for a combined HUF 194m.

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