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Hungary: Authorities okay foreign power plant investment

 |  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.

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.

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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