MET acquisition of GDF Suez gas business cleared

Competition

Hungaryʼs Competition Office (GVH) today it approved the acquisition of the gas business of GDF Suez Energia Holding Hungary by MET Magyarország, GVH said according to Hungarian news agency MTI.

According to the competition office, both companies sell gas to households and businesses, "however, based on the combined market share of the parties, any harmful effect of the merger could be excluded".

The acquisition was jointly announced by the two companies in February. The parties did not disclose the purchase price in response to MTI’s query.

The news agency noted that MET Magyarország earlier acquired the retail electricity business of GDF Suez Energia Holding Hungary. MET Magyarország is 40% owned by Hungarian oil and gas company MOL, 50% by Cyprus-based WISD Holding Ltd. and 10% by Swiss-based MET ManCo AG.

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