Hungary’s MKB Bank raised its indirect stake in Alomsziget 2004, a company building an entertainment centre at Hajogyari Island, a Danube island in northern Budapest, from 29.88pc to 43.33pc under an agreement signed on March 19, 2009, the bank said on the website of the Budapest Stock Exchange on Friday.
MKB said it raised its stake through the company Ercorner, though did not reveal the seller or the price.
According to earlier information three investors — CP Holdings (the main shareholder of Hungarian hotels group Danubius), Plaza Centers, a unit of Elbit Medical Imaging of Israel, and MKB Bank — each held 30pc of Alomsziget, while a company belonging to the managing director held the remaining 10pc.
Alomsziget, or “Dream Island,” is a HUF 400bn property development project to be carried out on a 32-hectare site that property developer Alomsziget 2004 Ingatlanfejleszto owns on the 118-hectare Hajogyari Island.
The project includes construction of a hotel and casino for which Alomsziget Entertainment, the project company for Alomsziget, won a tender for a 20-year gambling concession for 100 gaming tables and 1,000 slot machines in May 2008.