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Opus makes offer for E.ON Hungária energy trader

Listed holding company Opus Global on Monday said it submitted a binding offer to buy E.ON Energiakereskedelmi (Eker), the energy trading unit of E.ON Hungária, state news wire MTI reports.

Opus said the offer, made on Friday, February 7, would not be covered directly by bank financing.

"The successful participation of the company depends on many conditions and based on the competitive situation on the market the final result of the tendering procedure can not be calculated currently," Opus added.

E.ON Energiakereskedelmi had net sales revenue of HUF 376.8 billion in 2018, public records show.

Opus noted that obtaining a stake in excess of 25%, 50%, or 100% in an electricity company requires prior permission from the Hungarian Energy and Public Utility Regulatory Authority (MEKH) and the merger of Eker into Opus also needs to be approved by the Hungarian competition office (GVH).

Opus shares traded at HUF 284, up 5.5 % from the previous close, about 15 minutes after the opening bell on Monday.

Opus Global is controlled by the investor Lőrinc Mészáros, a close ally of Prime Minister Viktor Orbán.