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5th February, 2019

OTP eyes Moldova acquisition

A delegation from OTP bank will arrive in Moldova in the coming days to discuss a preliminary agreement on the acquisition of a majority stake in Mobiasbanca, the subsidiary of Societe Generale, Moldovan website Mold Street reports.

OTP has subsidiaries in Moldova’s two neighbouring countries, Ukraine and Romania, but refused to comment on the report.

Societe Generale acquired 70.6% of shares in the Kishinev-based bank for €18.4 million in 2007, and later bought all remaining shares.

The French bank’s Romanian subsidiary BRD took a 20% ownership through a capital increase in 2008, and the EBRD acquired an 8.8% stake.

Founded in 1990, Mobiasbanca has a market share of 13% by total assets and a 14.5% share in lending, making it Moldova’s third biggest bank.

It operates 54 branches serving 148,000 retail and 13,000 corporate clients.

Over the last five years, it saw its assets double and profits triple.

OTP has recently sealed several deals with Societe Generale, having acquired its Albanian and Bulgarian units in August and the Serbian subsidiary in December.

As analysts were expecting that OTP’s next move would be to enter the Bosnian market or further its presence in Macedonia, the report came as a surprise. (vg.hu; portfolio.hu; napi.hu; mfor.hu; 24.hu)
5th February, 2019

Bridgestone becomes direct supplier to auto giants

Japanese tyre maker Bridgestone’s factory in Tatabanya has been certified as a direct supplier to BMW, Audi, the Volkswagen Group and Mercedes, the company announced.

Last year the factory produced five million tires and sold 40% of its output directly to domestic and international car manufacturers.

Bridgestone Tatabanya Termelo completed the installation of its artificial intelligence-based digital tyre manufacturing machines in its second unit, which opened in 2017 after an Ft 85 billion investment.

Last year, the company invested Ft 9.2 billion to build a 10,000m2 warehouse, which increased storage capacity to 600,000 tyres.

The company is planning to add capacity at the plant this year in order to produce 7.2 million tyres in 2020. Payroll rose by 200 to 1,200 in 2018.

Bridgestone Tatabanya has a network of 750 suppliers, mostly Hungarian SMEs, from which the company bought goods and services worth Ft 4.6 billion last year.

Sales grew to Ft 66.5 billion in 2018 from Ft 53.1 billion in 2017 and Ft 36 billion in 2016.

Bridgestone Tatabanya produces tyres designed primarily for premium category vehicles in 230 different sizes. (portfolio.hu; profitline.hu; infostart.hu; hirado.hu)
5th February, 2019

Richter partners with Dutch firm

Drug maker Richter Gedeon has signed a licence and supply agreement with Pantarhei Bioscience to commercialise a combined oral contraceptive developed by the Dutch company, it was announced on the BSE website.

Clinical trials have been successful and the drug is ready for further studies to obtain approval, the announcement said.

The agreement covers the distribution of the drug to Europe, Russia, Latin America and Australia.

Richter has agreed to make an upfront payment after signing the agreement and milestone payments depending on the development and commercialisation of the product.

Pantarhei will also be entitled to royalties following the launch of the product.

Richter is responsible for the financing of all expenses related to the required clinical and post-approval studies, according to the agreement. (napi.hu; bse.hu; portfolio.hu; tozsdeforum.hu; mfor.hu)

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