One-Page Deal Sheet
E.ON Divests of Subsidiaries to MVM Hungarian Electricity
Mvm Hungarian Electricity Limited E.On
Announced Date
March 29,2013
Close Date
March 29,2013
Transaction Type
Asset
Location
Country
Hungary
Transaction Details: Subscribe to see
E.ON has concluded an agreement to sell its 100-percent stakes in E.ON Földgáz Trade and E.ON Földgáz Storage to MVM Hungarian Electricity Ltd. The purchase price for both companies, including the assumption of debt, is around €870 million.
E.ON Földgáz Trade is Hungary’s largest gas supplier and has gas procurement contracts with domestic and foreign producers. E.ON Földgáz Storage has a storage capacity of 4.2 billion cubic meters, making it the country’s largest provider of gas storage services. The two companies are based in Budapest and together employ about 250 people.
E.ON CFO Marcus…
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