Competition Office clears Opus acquisition of Mátrai Erőmű

Green Energy

MTI

Listed holding company Opus Global on Tuesday said Hungaryʼs Competition Office (GVH) has cleared its acquisition of a majority stake in power plant company Mátrai Erőmű. The approval would give the group of companies under the control of oligarch Lőrinc Mészáros exclusive indirect control over the power station.   

Mátrai Erőmű owns the Mátra Power Plant, Hungaryʼs second-biggest generator of electricity, as well as the countryʼs biggest solar park and two lignite surface mines, recalled state news wire MTI.

The GVH said it found no need to carry out an investigation into the planned merger through which Mészáros Group member Status Power Invest would obtain sole indirect control over the power station. Opus Global also said the acquisition of the stake was acknowledged in a resolution by the Hungarian Energy and Public Utility Regulatory Authority (MEKH).

Opus Global, also controlled by Mészáros and listed on the Budapest Stock Exchange, announced in late March it had agreed to buy out its Czech partner EPH from Mátrai Erőmű in two steps by the end of June 2019. The announcement came only days after Opus and EPH had announced their indirect acquisition of a 72.66% stake in the power plant operator.

Opus is to get a 55.05% stake in Status Power Invest as part of a number of planned in-kind contributions of stakes in companies owned by Mészáros in exchange for newly issued Opus shares announced in February.

Opus Global now indirectly owns 61.76% of Mátrai Erőmű, MTI reported on Tuesday. The minority owner is the state-owned Hungarian Electricity Works (MVM).

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