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Hungary: Authorities okay foreign power plant investment

By  |  June 12, 2014

Switzerland-based MET Power has reportedly been given approval by Hungarian officials to acquire a minority stake in the Dunamenti power plant, a venture that could lead to an increase in ownership, reports say.

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    MET, which is partially owned by Hungary-based fuel conglomerate MOL, acquired a 24.5 percent stake in the pant last February. The share was originally held by GDF Suez.

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    Now, reports say MET and GDF are looking to acquire an additional 50.3 percent of the plant currently held by Electrabel, which is also partially owned by France-based GDF.

    Reports say the parties are looking to strike an agreement on the transaction by the end of the summer. Financial details of the transactions were not disclosed.

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