GDF Suez Sells Electricity Trading Business in Hungary
19 November 2014 - 2:15AM
Dow Jones News
By Veronika Gulyas
BUDAPEST--French energy giant GDF Suez (GSZ.FR) will sell its
electricity trading business in Hungary to MET Zrt, a Hungarian
energy trading company partly owned by MOL Nyrt., GDF told The Wall
Street Journal Tuesday.
MET Magyarorszag Energiakereskedo Zrt. won the right to take
over the electricity trading arm at a tender, for an amount that
neither of the parties revealed. The transaction is subject to
Hungary's competition office giving the go-ahead.
The electricity portfolio accounts for 0.5% of the Hungarian
electricity trading market.
GDF Suez will stay in the Hungarian natural gas distribution
market, the company said in an e-mailed response to The Wall Street
Journal.
Write to Veronika Gulyas at veronika.gulyas@wsj.com; Twitter:
@VeronikaGulyas1
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