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PannErgy unit to purchase geothermal-well drilling company

Analysis

Hungarian geothermal-energy company PannErgy's 93.9%-owned unit PannErgy Geotermikus Erőművek Zrt has agreed to purchase 100% of geothermal-well drilling company DoverDrill Mélyfúró Kft, PannErgy reported on Thursday.

PannErgy said that PannErgy Geotermikus Erőművek Zrt will purchase the DoverDrill for considerably less than the latter company's 2010 net assets of HUF 159 million.

PannErgy is a B-category issuer at the BSE.

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