State takeover of 100 % of Fogaz shares approved – Hungary, 14 June 2017

State-owned utility company ENKSZ, which is now operating under a new name NKM Nemzeti Kozmuvek, will acquire 100 % of the shares of natural gas distributor Fogaz and will provide regulated market electricity services nationwide after its subsidiary Demasz received the respective universal license.
The Hungarian Energy and Public Utility Regulatory Authority (MEKH) has approved the transaction in which the Hungarian Development Bank (MFB) will swap its 100 % stake in Fogaz for shares in NKM Nemzeti Kozmuvek. The Government has declared this transaction of national strategic importance and it is expected to be completed by the end of June.

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