Budapest, March 5 (MTI) – The state-owned Hungarian Electricity Works (MVM) said it signed on Wednesday a declaration of intent on the purchase of E.ON Hungaria’s retail gas and gas network businesses.
The non-binding declaration regards the possible purchase of E.ON Energiaszolgaltato, E.ON Kozep-dunantuli Gazhalozati, E.ON del-dunantuli Gazhalozati and E.ON Ugyfelszolgalati.
Last year, MVM paid 281 billion forints (EUR 906m) for E.ON’s Hungarian gas trade and storage business.
E.ON Hungaria board member Peter Ilyes said the company wanted to sell its retail gas trade and gas network units to focus on its corporate electricity and gas clients.
MVM said it would start due diligence at the units after which price negotiations could start. A possible transaction could be closed by year-end, it added.
Hungary’s government earlier announced plans to play a bigger role in the utilities sector and transform it into a non-profit one.