Hungary, MVM has completed a deal to acquire 100 % of E.ON Aramszolgaltato

, SEE Energy News

Hungarian state-owned energy company MVM has completed a deal to acquire 100 % of E.ON Aramszolgaltato, German-owned E.ON’s local electricity distributor for the regulated retail market, making it the only universal provider on the natural gas and the electricity market.

The joint statement from the two companies said that the sale of E.ON’s subsidiary does not affect customers on the competitive market that have a contract with E.ON Hungaria Group. E.ON Group will continue to provide electricity services to them in the future.

MVM and E.ON reached an agreement on the acquisition in February 2022. MVM Group owns a 25 % stake in E.ON Hungaria. The companies stated that the current agreement supports the long-term strategies of the two groups and helps them opti- mize their portfolios.