2002. October 14.
The Hungarian Antitrust Office today cleared the way for E.ON Hungária Rt., a wholly-owned subsidiary of Munich-based E.ON Energie, to increase its stake in Hungarian electric utility ÉDÁSZ (Északdunántúli Áramszolgáltató Rt.) from 27.7% to an 89.1% majority interest.
In April this year E.ON Hungária signed an acquisition agreement for E.D.F. International's 27.7% interest in ÉDÁSZ, making it a majority shareholder. Under Hungarian securities law E.ON Hungária was thus required to make a public tender offer for the remaining ÉDÁSZ shares held by minority shareholders. The additional purchases which ensued allowed the company to boost its shareholding to a total of 89.1%.
The ÉDÁSZ takeover represents another key milestone for E.ON Energie AG's activities on the Hungarian energy market. E.ON Energie has been operating successfully in this market since 1995 via its subsidiary, E.ON Hungária.
Key facts about ÉDÁSZ:
ÉDÁSZ is headquartered in Györ, Hungary. Its service territory covers Hungary's main industrial region in the Northwest, which borders on Austria, Slovenia and Slovakia.
|Electricity supplied||7.1 billion kWh|
|Net income||€22 million|
|Customer base||around 909,000|
|Electricity grid length||28,951 km|
|Service territory||18,224 km2|