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.
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