January 08, 2009, 15:15 CET
Hungarian Development Bank acquires stake in film studio company
The state-owned Hungarian Development Bank (MFB) has acquired a 10pc stake in Origo Filmstudio Filmgyarto, a company that plans to build a HUF 12bn film studio in Budapest's District XV, business weekly HVG reported in its issue published Thursday.
The acquisition of the stake is related to a preferential loan the bank granted the company to cover 10pc of the cost of building the film studio, HVG said.
The company is owned by Adam Tertak, the former managing director of the Hungarian unit of Ernst and Young; the producer Gabor Varga; property investor Istvan Kovacs; and California-based Raleigh Enterprises.
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