E.ON sells Hungarian gas companies E.ON Földgáz Trade and E.ON Földgáz Storage


E.ON has concluded an agreement to sell its 100-percent stakes in E.ON Földgáz Trade and E.ON Földgáz Storage to MVM Hungarian Electricity Ltd. The purchase price for both companies, including the assumption of debt, is around €870 million.

E.ON Földgáz Trade is Hungary’s largest gas supplier and has gas procurement contracts with domestic and foreign producers. E.ON Földgáz Storage has a storage capacity of 4.2 billion cubic meters, making it the country’s largest provider of gas storage services. The two companies are based in Budapest and together employ about 250 people.

E.ON CFO Marcus Schenck said of the deal: “The sale of our gas companies in Hungary further sharpens the focus of our business in Europe. Through our E.ON Hungária subsidiary we continue to supply energy to about 3 million customers in Hungary.”

The transaction, which is subject to antitrust and regulatory approval, is expected to close in the second half of 2013.

This press release may contain forward-looking statements based on current assumptions and forecasts made by E.ON Group management and other information currently available to E.ON. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. E.ON SE does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.