Magyar Takarékszövetkezeti Bank Zrt. along with a number of savings cooperatives acting in concert made an offer to acquire the remaining stake in FHB Jelzálogbank Nyrt. (BUSE:FHB) on May 29, 2017. Under the terms of the transaction, Magyar Takarékszövetkezeti offered HUF 533 per share for FHB’s Class A ordinary shares and Class B preference shares as well as HUF 5,330 for Class C ordinary shares. The transaction is subject to approval of the Hungarian Central Bank. As on June 20, 2017, the Hungarian Central Bank authorized Magyar Takarékszövetkezeti to commence the tender offer from June 26, 2017 till July 31, 2017. MKB Bank Zártköruen Muködo Részvénytársaság acted as investment service provider in the tender offer.