MVM acquires ÉMÁSZ Hálózati

Deals

State-owned Hungarian power company MVM Energetika on Friday said it signed a contract to acquire ÉMÁSZ Hálózati from electricity distributor ÉMÁSZ, a unit of Germany's E.ON, according to a report by state news wire MTI.

MVM Energetika did not disclose the price of the transaction.

MVM agreed with E.ON to purchase ÉMÁSZ Halozati in the fall of 2019.

With the acquisition, MVM will ensure the operation of infrastructure for almost 1.5 million customers.

Andrea Mager, Hungary's minister in charge of managing national assets, said the purchase is another milestone of the strategy to give the MVM group a presence extending across the entire value chain on the domestic energy market and make it a major player at the regional level, too.

MVM group chairman-CEO György Kóbor said the purchase would further strengthen the group's position in the infrastructure segment.

ÉMÁSZ Halozati supplies electricity to 740,000 customers in more than 400 settlements in parts of the counties of Nógrád, Borsod-Abaúj-Zemplen, Heves, Pest and Jász-Nagykun-Szolnok.

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