Opus Global closes Titász acquisition
Photo by AB Sydney Electrical
Listed holding company Opus Global on Tuesday said its unit Opus Energy completed the acquisition of 100% of the shares of electricity distributor Titász from E.ON Hungária, according to a report by state news wire MTI.
The name E.ON Tiszántuli Áramhálózati will be changed to OPUS TITÁSZ Áramhálózati from September 1.
Opus Global signed a sale and purchase agreement on the acquisition of Titász from the local unit of Germany's E.ON late in March.
The company said earlier in August that it borrowed HUF 50 billion from MKB Bank and Takarékbank to make the acquisition
Titaáz supplies power to more than 772,000 homes and businesses. Its electricity network is valued at more than HUF 103 bln.
Last year, Titász had revenue of more than HUF 57 bln.
Richter Shareholders Approve HUF 423/Share Dividend
Liz & Chain Rooftop Bar Debuts Sustainable Cocktails
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.
