Főgáz closes acquisition of GDF Suez retail gas business
State-owned gas distributor Főgáz has closed the purchase of GDF Suezʼs retail business in Hungary, the First National Utilities Company (ENKSZ) said today.
Főgáz is the bridgehead onto the gas market for ENKSZ, which was recently established by the state to act as an efficient, predictable and cheap utilities provider.
ENKSZ said early in September that Főgáz had signed an agreement with GDF International to buy GDF Suez Energia Magyarország.
With the acquisition, Főgáz has taken over more than 750,000 retail customers.
Főgáz has also reached agreements on the takeover of the local retail gas customers of Italyʼs ENI and Germanyʼs E.ON, making it the countryʼs sole gas provider, supplying gas to approximately 3.3 million households in Hungary.
ADVERTISEMENT
Households Make Net Withdrawals in April
Parl't Approves Amendments to Legislation on Judiciary
Wizz Air Participates in USD 50 mln Investment
Tourism Nights Slightly up in April 2023
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
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.
