Hungary, MVM announced that it has signed an agreement to acquire 100 % of E.ON

, SEE Energy News

State-owned energy company MVM announced that it has signed an agreement to acquire 100 % of E.ON Aramszolgaltato, German-owned E.ON’s local electricity distributor on the regulated retail market.

The transaction is expected to close in the spring of 2022. The deal will affect close to 2.5 million customers in the west and east of Hungary.

After the deal is closed, MVM will offer nationwide coverage for customers on both the regulated retail gas and electricity markets.