State-owned ENKSZ buys EDF Démász
Hungary’s state-owned utilities company ENKSZ announced today it had signed a contract to acquire EDF Démász, a regional electricity distributor, from France’s EDF International, Hungarian news agency MTI reported.
The transaction is due to be closed early next year, pending regulatory approval. Démász supplies about 775,000 retail and business customers in southeast Hungary. ENKSZ will pay for EDF Démász with its own resources as well as financing from the state-owned electricity works MVM Group, which will later take an equity stake in ENKSZ.
ENKSZ acquired stakes in the regulated market businesses of regional electricity distributors Elmű and Émász from Germany’s RWE in December 2015.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.