Hungarian state-owned NKM National Utilities, formerly named ENKSZ, announced that it has signed an agreement with ENGIE on the acquisition of 100 % stake in regional natural gas distributor Egaz-Degaz Foldgazeloszto.
The agreement includes 100 % of the shares of the distributor as well as its assets and 23,125 kilometers long gas distribution network. The acquisition is now pending approval of several authorities. NKM said that financial details of the agreement will be disclosed after it is approved, but noted that it will finance the acquisition from its own resources.
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Tags: acquisition, Egaz-Degaz, Engie, ENKSZ, gas, gas distribution, Hungary, NKM