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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.