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Hungary: Electric giant sells total ownership of two firms in $1B deal

By  |  March 28, 2013
Hungary: Electric giant sells total ownership of two firms in $1B deal

A top energy provider has reportedly decided to sell its 100 percent stakes in two companies to another electricity company for more than $1 billion. E.ON will sell its stakes in E.ON Földgáz Trade – the nation’s largest gas supplier – and E.ON Földgáz Storage – the nation’s largest gas storage services company – to MVM Hungarian Electricity Ltd, according to reports. The gas supplier and storage companies are both based in Budapest. While the deal will require approval from antitrust regulators, the acquisition is expected to finalize later this year.

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