Hungary: MVM took over 50% of company Panrusgáz from E.ON

, SEE Energy News

Hungarian MVM purchased from the German company E.ON 50 percent of stake in the gas trading company Panrusgáz. The value of the transaction was $ 3.5 million, and it was completed on the basis of the previous agreement, reported MVM.

Company Panrusgáz was founded in 1994 and is engaged in importing gas from Russia’s Gazprom. Gazprom Export and Centrex Hungária also possess the shares of the company.

At a meeting held after the takeover, the new management was appointed, the Board of Directors and the Supervisory Board. Scaba Baji was appointed as the President and the Executive Director.