CEE – Royalton generates 3.6x money multiple on sale of Ella Bank
Dedicated Central and Eastern European investor Royalton Capital Investors has sold its entire stake in Ella Bank to generate a return of 3.6x money invested and an IRR of 39%. The Hungarian retail bank was sold by Royalton and EDHI to AXA Holdings Belgium. Ella is Hungary’s fastest growing retail bank and had a pro-forma consolidated balance sheet of EUR 375m at the end of 2006. The company serves 68,000 customers from a staff of 340 people.
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