Equity
Főgáz buys GDP Suez natural gas unit in Hungary
GDF Suez Energy Hungary Zrt., which is a universal service provider with the necessary market permits, sold Főgáz 99.93% of its share, including all of its know-how, assets, service capacities, and the entire HR, infrastructural, financial, accounting and IT system.
Főgáz plans to finance the transaction partly from own and partly from external sources. The purchase price will be finalised when the financial clearance is carried out.
The company, which had revenues of about HUF 140 billion in 2014, provides natural gas to more than 750,000 consumers in six counties in the Northern Trans-Danubian and Southern Great Plain regions.
Főgáz, which has been providing its services for over 150 years, handles gas supply in the capital city of Budapest and its surrounding villages, including the management and maintenance of the gas pipeline network.
It has recently extended its service area beyond the borders of Budapest to 10 additional counties. The company has been providing gas trade on the free market to the entire area of Hungary for a number of years now.
Főgáz plans to finance the transaction partly from own and partly from external sources. The purchase price will be finalised when the financial clearance is carried out.
The company, which had revenues of about HUF 140 billion in 2014, provides natural gas to more than 750,000 consumers in six counties in the Northern Trans-Danubian and Southern Great Plain regions.
Főgáz, which has been providing its services for over 150 years, handles gas supply in the capital city of Budapest and its surrounding villages, including the management and maintenance of the gas pipeline network.
It has recently extended its service area beyond the borders of Budapest to 10 additional counties. The company has been providing gas trade on the free market to the entire area of Hungary for a number of years now.
