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

Int’l Relations

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.

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.

Support the BBJ

Foreign Affairs