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EDFI boosts Démász stake to 95.06% in buyout

Electricite de France International (EDFI) has raised its stake in Hungarian electricity distributor Démász Nyrt to 95.06% from 60.91% in a public purchase offer ended November 13, Démász announced on the website of the Budapest Stock Exchange (BÉT) on Wednesday.

EDFI offered Ft 20,000 per share for the shares between September 25 and November 13. The purchase cost EDFI an estimated Ft 25.3 billion.
One of the sellers of the shares was the local council of Békéscsaba in southeast Hungary. The council said earlier it had sold 24,769 shares it held for a combined price of Ft 495 million.
EDFI said earlier it planned to delist the shares following the offer. The delisting is expected to take place in December.
EDFI's acquisition of a stake exceeding 75% in Démász was approved earlier by the Hungarian Energy Office (MEH), as required by law.