ADVERTISEMENT

Ownership change won’t affect business model of E.ON gas storage unit

Energy Trade

The business model of German utilities company E.ON's gas storage unit in Hungary is expected to remain unchanged after its acquisition by the state is closed, E.ON Földgáz Storage chairman Axel Wietfeld told MTI. Wietfeld said the company's task would be to continue providing flexible services to gas market players. He added that no layoffs were expected as a result of the change in ownership. The state-owned Hungarian energy group MVM agreed in March to buy E.ON's gas storage and gas trade businesses in Hungary for about €870 million. The transaction is expected to be closed in the second half of this year.

ADVERTISEMENT

Household income improved in Q1 Analysis

Household income improved in Q1

Ministers in new Orbán gov't sworn in Parliament

Ministers in new Orbán gov't sworn in

Spring’s allergy season - the heat is on Interview

Spring’s allergy season - the heat is on

Airport bus fare could rise to HUF 1,500 City

Airport bus fare could rise to HUF 1,500

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.