MVM buys out partner's stake in Bakonyi power plant
The state-owned Hungarian Electricity Works (MVM) on Tuesday said it completed the buyout of its partner's stake in power Bakonyi Villamos Művek Termelő (BVMT).
MVM bought the 49.5% stake from Euroinvest, owned by construction magnate Sándor Demján. MVM did not reveal the price of the transaction but said it was established on the basis of an assessment by independent international experts.
MVM's and Euroinvest's joint venture took out a €63m loan to build the plant, Econews reported earlier. The loan covered about 80% of the cost of the plant with two 58MW blocks.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.