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GVH: MET purchase of GDF Suez requires no scrunity

Deals

The Acquisition of the Hungarian retail electricity business of GDF Suez Energia Holding Hungary by energy trader MET Magyarország does not require clearance, as the revenue of the GDF Suez business did not reach the HUF 500 mln threshold that would require scrutiny, Hungarian Competition Office (GVH) reported yesterday. 

The Hungarian GDF unit would retain its gas business according to earlier press reports on the planned acquisition. GDF has sold the power plant Dunamenti Erőmű earlier this year; the buyer was also the MET group. MET Magyarország is 40% owned by Hungarian oil and gas company MOL, 50% by Cyprus-based WISD Holding Ltd and 10% by Swiss-based MET ManCo AG.

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