Report: Rosatom buys out Hungarian partner from JV
Russian-owned Rosatom reportedly bought out its Hungarian partner from joint venture Ganz Engineering, a company that is capable of outfitting new blocks at Hungary’s sole nuclear power plant in Paks, according to Hungarian economy daily Világgazdaság.
The Russian company purchased a 49% stake in Ganz Engineering from Ganz Gépgyár Holding, Világgazdaság said. The price of the purchase was not revealed.
Ganz Engineering needed capital for developments to keep up with Rosatom, Ganz Holding chairman-CEO Zoltán Fitos told the paper.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.