MVM acquires 25% direct stake in E.ON Hungary

On December 15, 2021, the sale of shares regarding the minority shareholding of E.ON Hungary Ltd was completed, by which MVM Ltd acquired a 25% direct stake in E.ON Hungary Ltd. This transaction was the last step in a comprehensive framework agreement signed on October 3, 2019 between MVM Ltd and E.ON Beteiligungen GmbH.

With the previous acquisition of ÉMÁSZ Network Ltd, the strategic assets of MVM Group related to residential supply were strengthened, and MVM's retail portfolio was further expanded with the takeover of ELMŰ-ÉMÁSZ's universal service customers. The acquisition of the 25% stake in E. ON Hungary Ltd is an outstanding milestone for MVM, since it is becoming a financial investor in the E.ON Hungary Group. The transactions concluded on the basis of the framework agreement contributed to the optimization of the portfolios of MVM and E.ON Hungary Group, and also support the long-term strategy of the groups.

As part of the series of transactions started in 2019, E.ON Hungary Group has optimized its electricity network distribution portfolio with the integration of ELMŰ Network Ltd, and as before, operates as a significant market player in a more focused area. The group aims to be a partner to its customers in the ongoing energy transition by providing forward-looking network and customer solutions. The goal of E.ON Hungary Group is to serve its customers at the highest possible level and to contribute to the success of the Hungarian economy. In the coming years, MVM Group will strengthen E.ON Hungary Group as a financial investor in the realization of its strategic goals.