Opus makes offer for E.ON Hungária energy trader

Telco

Listed holding company Opus Global on Monday said it submitted a binding offer to buy E.ON Energiakereskedelmi (Eker), the energy trading unit of E.ON Hungária, state news wire MTI reports.

Opus said the offer, made on Friday, February 7, would not be covered directly by bank financing.

"The successful participation of the company depends on many conditions and based on the competitive situation on the market the final result of the tendering procedure can not be calculated currently," Opus added.

E.ON Energiakereskedelmi had net sales revenue of HUF 376.8 billion in 2018, public records show.

Opus noted that obtaining a stake in excess of 25%, 50%, or 100% in an electricity company requires prior permission from the Hungarian Energy and Public Utility Regulatory Authority (MEKH) and the merger of Eker into Opus also needs to be approved by the Hungarian competition office (GVH).

Opus shares traded at HUF 284, up 5.5 % from the previous close, about 15 minutes after the opening bell on Monday.

Opus Global is controlled by the investor Lőrinc Mészáros, a close ally of Prime Minister Viktor Orbán.

ADVERTISEMENT

Industries lose billions on counterfeit products Analysis

Industries lose billions on counterfeit products

Parl't to vote on groundwork for commercial accommodation ra... Parliament

Parl't to vote on groundwork for commercial accommodation ra...

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest re-launches airport shuttle bus City

Budapest re-launches airport shuttle bus

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.