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Hungary raises over EUR 700 million to finance Budapest Airport purchase

With the recent sale of state-owned assets, the government has raised over 700 million euros to finance the purchase of Liszt Ferenc International operator Budapest Airport, the economic development ministry said on Friday.

The ministry noted that the state had recently parted with its stakes in Erste Bank Hungary and Yettel Magyarorszag, while reducing its holdings in the local businesses of Vienna Insurance Group from 45 percent to 10 percent.

The sale of 66.9 percent stakes in the Magyar Posta insurance businesses is under way and a contract could be signed in the spring of 2024, it added.

The ministry said the purchase of the airport’s operator was the “most complex deal since the fall of communism”, but added that talks were advancing and had reached a phase in which the parties were “very close to a final agreement”.

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