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UPDATE 1-Norway's Skagen AS acquires 5.2 pct Richter stake

Tue Aug 5, 2008 9:43am EDT

(Adds details, market reaction.)

BUDAPEST, Aug 5 (Reuters) - Norway's Skagen AS investment fund has acquired a 5.2 percent stake in Hungarian drug maker Richter Gedeon GDRB.BU, Richter said on Tuesday in a filing with the Budapest stock exchange.

Skagen had no stake in Richter prior to the transaction, it said.

Richter could not comment further on the announcement.

Based on Richter's 18.63 million shares in issue, the transaction is worth 31.39 billion forints ($206.6 million) calculating with its Monday closing price of 32,400 forints according to Reuters data.

At 1334 GMT, Richter shares traded down 1.2 percent at 32,000 forints on the Budapest stock exchange, little changed from levels before the announcement. (Reporting by Gergely Szakacs and Sandor Peto; Editing by Greg Mahlich, Paul Bolding)



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