ADVERTISEMENT

Mészáros Group buys minority stake in Tigáz from MET Group

Deals

Status Energy Private Equity Fund, a holding of the investor Lőrinc Mészáros, has acquired a 49.57% stake in regional gas distributor Tigáz from MET Group, an energy trader headquartered in Switzerland, a PR agent for listed holding Opus Global, which Mészáros controls, said on Tuesday.   

Status Energy Private Equity Fund acquired the stake indirectly through a capital raise, the PR agent told state news agency MTI.

"The transaction will only affect the companyʼs ownership structure," the agent added. 

Tigáz will remain within METʼs consolidation, and CEO Balázs Gábor Lehőcz will continue to serve as the companyʼs chief executive.    Status Energy will delegate Csaba Kiss as deputy CEO for business development and strategy, while it will delegate Csaba Baji, who heads Opus Globalʼs energy division, to Tigázʼs board.

MET Group is active on the gas, electricity and crude markets. Last year, it had revenue of EUR 10.72 billion, of which 96% derived from markets other than Hungary. 

Status Energy was launched by Opus Global Investment Fund Manager with HUF 10 bln in start-up capital to invest in power-generating companies and energy distributors. Mészáros owns 53% of the fund manager, while Opus Global holds 47%.

Tigáz owns Hungaryʼs largest gas network, with a length of some 33,000 kilometers. It was acquired by MET Group in June 2018.

ADVERTISEMENT

Average age of coronavirus patients declining Analysis

Average age of coronavirus patients declining

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Budapest airport shuttle bus service expanded City

Budapest airport shuttle bus service expanded

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.