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Royalton Capital Investors sells Ella Bank to AXA20/03/2007. Source: AltAssets. 
 Royalton Capital Investors, a private equity fund focused on making investments in the CEE region, has sold together with the management and EDHI, a company affiliated with the management of Ella Bank, 100 per cent of Hungarian retail bank Ella Bank and its affiliates, Ella Kft and Ella Services Romania, to AXA Holdings Belgium, an AXA Group subsidiary.
The value of the transaction was not disclosed, but Nigel P Williams, chairman of Royalton Partners, said, 'We are extremely pleased with our investment in Ella Bank. Taking the Ella companies together, it will yield us a return of 3.6 times invested capital and an IRR of 39 per cent.'
Ella has 68,000 customers and employs 340 people.
Royalton Capital Investors originally acquired its stake in the business in December 2002, when the company was an S&L cooperative bank.
Royalton Partners advises Royalton Capital Investors, the $94m private equity fund closed in 1999.
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