MVM pays HUF 281 billion for E.ON gas business
The state-owned Hungarian Electricity Works (MVM) paid HUF 281 billion (appr. $1.28 billion) for the Hungary-based gas business of Germany-based electric-utility company E.ON, company representatives announced.yesterday.
MVM paid HUF 260 billion for the business and an additional HUF 21 billion for the company’s cash stocks and tax refunds. MVM signed an agreement to purchase E.ON’s Hungarian gas business in March 2013.
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