By Margit Feher
BUDAPEST--Hungary's national asset manager MNV Zrt. Tuesday said
it will sell its stake in local drug producer Egis Nyrt. (EGIS.BU)
to privately owned French pharmaceutical group Servier.
In September, Servier offered to pay 28,000 forints ($127.4) per
Egis share, representing a 33% premium over the Sept. 23 closing
price.
The deal will see MNV sell its 4.7% stake and boost Hungary's
budget revenue by 10.33 billion forints ($50 million).
Servier, which is a privately held pharmaceutical group with
global turnover of EUR3.9 billion in 2012, owned 51% of Egis at the
time of the offer.
Egis shares closed Tuesday at HUF27,070 on the Budapest Stock
Exchange, up HUF20 or 0.1%.
Write to Margit Feher at margit.feher@wsj.com