Listed holding company Opus Global on Monday said it signed a contract on the sale of its 72.66% stake in Mátrai Erőmű, which operates Hungaryʼs second-biggest power plant, to the state-owned Hungarian Electricity Works (MVM).
Opus noted that the transaction still requires the regulatory approval of Hungarian and European Union authorities. Pending their decision, the transaction could be closed in the first quarter of 2020.
Opus informed its investors that during the future the company wants to put more focus on energy production from renewable resources, on power distribution networks and energy trading when expanding its portfolio.
Opus Global signed a memorandum of understanding on the sale of its stake in Mátrai Erőmű to MVM on November 20.
Opus partnered with Czech utility company EPH to acquire the 72.66% Mátrai Erőmű stake from Germanyʼs RWE and EnBW in the spring of 2018. Opus agreed to buy out its Czech partnerʼs stake in the power plant company days later.