Vienna Capital Partners increases its stake in FHB

Vienna Capital Partners has just acquired an additional 300,000 shares of the Hungarian listed mortgage bank, FHB, which brings its stake to more than 10%. Through its local arm VCP Finanz Kft, Vienna Capital already owned 6.5 million FHB shares, corresponding to a 9.86% stake, acquired in March last year. In December 2007 the company and the fund entered an agreement giving the fund the option to acquire up to 6.27 million ordinary shares to a total of 19.63% by the end of 2009. This acquisition is the first step of the agreement.

Following this announcement, Heinrich Pecina, the fund's senior partner, denied speculation about further acquisitions. The fund will not take a controlling stake that would lead to a takeover.

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