MVM to become sole proprietor of Paks, Vértesi power plants

Deals

The state-owned Hungarian Electricity Works (MVM) will buy all shares in the Paks nuclear power plant and the Vértesi power plant, which are not yet state owned, MVM said after a decision taken at a general meeting yesterday. 

MVM will acquire 883 shares in nuclear power company MVM Paks Atomerőmű and 40,428 shares in Vertesi Erőmű to become the sole owner of both companies. The decision was taken based on amendments to legislation on the efficient operation of state-owned companies in force from December.

The changes made it legally possible for the state to buy out stakes in companies that offer basic services to households or businesses and in which state ownership already reaches 90%.

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