Viktor Orban’s clever son-in-law

Hungarian real estate holding BDPST Zrt, owned by Prime Minister Viktor Orban’s son-in-law, will acquire a 57% stake in Granit Bank, the value of the transaction not being disclosed, reports Reuters, taken over by Agerpres.

BDPST will acquire the stake in the Hungarian consulting firm EPM, which is controlled by the CEO of Granit Bank, Eva Hegedus.

Granit Bank’s balance sheet totals nearly 700 billion forints ($ 2.14 billion), and manages the accounts of about 80,000 customers.

The transaction must be approved by the Central Bank of Hungary (NHB).

In a statement, BDPST said it supports Granit Bank’s long-term financial investor strategy and planned capital increase.

BDPST was founded in 2015 by Istvan Tiborcz, Orban’s son-in-law, and in recent years has reached a real estate portfolio in Budapest and nationally, as well as hotels in Austria.

According to the ranking made by the Hungarian journalist Peter Szakonyi, Tiborcz is on the 37th place in the top of the richest people in Hungary.

The main financial institutions in Hungary are the local group OTP Bank and the local divisions of KBC Groep, Erste Group Bank, Raiffeisen, UniCredit and Intesa SanPaolo.

Source: Cotidianul RO by

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