EDFI boosts Démász stake to 95.06% in buyout
Electricite de France International (EDFI) has raised its stake in Hungarian electricity distributor Démász Nyrt to 95.06% from 60.91% in a public purchase offer ended November 13, Démász announced on the website of the Budapest Stock Exchange (BÉT) on Wednesday.
EDFI offered Ft 20,000 per share for the shares between September 25 and November 13. The purchase cost EDFI an estimated Ft 25.3 billion.
One of the sellers of the shares was the local council of Békéscsaba in southeast Hungary. The council said earlier it had sold 24,769 shares it held for a combined price of Ft 495 million.
EDFI said earlier it planned to delist the shares following the offer. The delisting is expected to take place in December.
EDFI's acquisition of a stake exceeding 75% in Démász was approved earlier by the Hungarian Energy Office (MEH), as required by law.
ADVERTISEMENT
MBH Bank Closes Acquisition of Duna Takarék Bank
V4 Agri Officials: WTO Case Over Grain Bans 'Unfortunate'
Corvinus Uni, ExxonMobil Sign Cooperation Deal
Budapest Muni Council Clears Rác Baths Renovation
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.
