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European Bank to take equity stake in Hungarian investment advisory company
The European Bank for Reconstruction and Development today announced a 20% equity investment of approximately DM 213,000, in the capital of Eurocorp International Finance Rt, a new corporate finance advisory company located and operating in Hungary. The investment marks the continuing commitment made by the Bank to the development of the financial sector in eastern and central Europe and its support of entrepreneurial initiative.
In addition, the Bank will lend DM 1,300,000 to Eurocorp, convertible into equity, to provide Eurocorp additional capital for its operations.
Ron Freeman, First Vice President for Merchant Banking, said, "Our aim is to encourage equity investment in the private sector. Local banking expertise will help catalyse such investment".
The founder directors of Eurocorp are individuals with substantial experience in investment banking. They will offer international corporate finance advice, access to client networks and placement capability.
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