MET Signs Agreement with ENI to Purchase TIGAZ Zrt

Source Press Release
Company MET Holding AGENI S.p.A. 
Tags Corporate Deals, Deals, Pipelines/ tankers/ distribution
Date December 18, 2017

Switzerland-based MET Group has signed a Share Purchase Agreement with Italian ENI to purchase 98,99% of the registered capital and voting rights in TIGAZ Zrt.

TIGAZ Zrt. holds 100% participation rights in TIGAZ-DSO Földgázelosztó Kft., a distribution system operator company. It was established in 2007 for the distribution of natural gas in North-Eastern Hungary. It distributes over 2 billion cubic meters of natural gas every year via its 33 thousand km-long pipeline network (representing 48% of the national grid) to approximately 1.2 million customers in 1094 local municipalities.

The agreement was reached following a competitive tender.

Benjamin Lakatos, CEO of MET Group commented: “TIGAZ adds a new element to MET’s asset portfolio as part of its growth strategy. Advancing in the value chain to natural gas infrastructure investments is a natural next step for us.”

The transaction is expected to close in the second quarter of 2018, subject to the customary closing conditions – including the relevant regulatory approvals.

Source: EvaluateEnergy® ©2022 EvaluateEnergy Ltd