Hungarian Electricity Works acquired PP Matrai Eromu

, SEE Energy News

The country’s second-largest power plant Matrai Eromu, is acquired by state-owned Hungarian Electricity Works (MVM), for a price of 49 million euros.

The Government declared the acquisition of Status Power Invest, which owns Matrai Eromu, by MVM a matter of national strategic significance, exempting the transaction from the scrutiny of antitrust authorities. The Government made this decision in the interest of the security of energy supply.

In December, holding company Opus Global said that it has signed a contract on the sale of its 72.66 % stake in Matrai Eromu to MVM. Opus informed its investors that during the future the company wants to put more focus on energy production from renewable resources, on electricity distribution networks and energy trading when expanding its portfolio. Opus partnered with Czech company EPH to acquire the 72.66 % Matrai Eromu stake from German companies RWE and EnBW in the spring of 2018. Opus agreed to buy out its Czech partner’s stake in the power plant company days later.