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Gazprom to acquire minority stakes in E.On's Hungarian companies

Gazprom will receive minority interests of 50% minus one share in the Hungarian gas companies E.ON Földgáz Storage and E.ON Földgáz Trade, a stake of 25% plus one share in the regional power and gas supplier E.ON Hungária and a compensation still to be quantified, Bloomberg reported citing Dow Jones.

The two companies have signed an agreement under which Gazprom will receive the stakes in E.On's Hungarian businesses in exchange for giving the German group a stake of 25% minus one share in the Siberian gas field Yuzhno Russkoye, one of the world's largest gas fields.
E.ON and Gazprom intend to conclude a detailed agreement on the exchange of assets by the end of the year. The envisaged Gazprom shareholdings in Hungary are subject to approval by the European Commission and Hungarian authorities.