UNQUOTE

CEE – Royalton generates 3.6x money multiple on sale of Ella Bank

  • Wietske Blees
  • LinkedIn  
  • Google plus  

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.

Royalton had invested in Ella in December 2002 when Ella was an S&L cooperative bank. During the holding period Royalton helped the bank transform into a commercial bank and enter the retail mortgage business. Today the company is the sixth largest supplier of residential mortgages in Hungary. The exit is the fourth from Royalton’s $94m fund raised in 1999, which has delivered returns of $153.3m to limited partners.
  • LinkedIn  
  • Google plus  

More on Exits

Latest News