BDPST Group struck a deal to unload 20.48% of Granit Bank Nyrt., according to a filing on Thursday. That comes on the heels of a previously announced plan to sell another 9.9%. If both transactions settle, Tiborcz would still hold roughly a tenth of the lender. Granit is a smaller, digitally oriented bank that also owns the local brokerage Equilor.
Tiborcz has rejected the idea that his rise came from political ties to his father-in-law. Over Viktor Orban's 16 years in power, he became one of Hungary's richest businessmen, assembling the country's largest luxury hotel portfolio and taking control of listed hauler Waberer's International, among other holdings.
Prime Minister Peter Magyar's government is moving ahead with a corruption clean-up and seeking to reclaim state assets it says were misused, the platform that powered his April landslide. This week, authorities detained Daniel Jellinek and Norbert Szivek, prominent businessmen who had previously partnered with Tiborcz, in a corruption case. Both deny wrongdoing.
On Thursday, the government approved a measure empowering the tax authority to conduct full audits of politicians' assets spanning up to 20 years into the past. Magyar said the reviews will extend to relatives of politicians - among them the families of former prime ministers - and are intended to illuminate what he termed the former political elite's "fairy tale" accumulation of wealth. "Our goal isn't vengeance," Magyar said after a cabinet meeting.
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"Our goal is for the law to apply everyone."
Power reshuffles can ripple into banks, brokers, and valuations, especially when probes target past deals. You do not need to trade on headlines, but it is worth knowing who controls the assets behind the tickers you own.
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