ENI Sells its Gas Distribution Operations in Hungary

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

Eni and MET Holding AG signed an agreement to sell 98.99% of Tigaz Zrt to MET, including Eni’s gas distribution operations in Hungary through its participations in Tigaz DSO and Turulgaz.

Tigaz owns and operates a 33,700 km-long network in North-Eastern Hungary (representing 48% of the national grid) and 1.2 million delivery points in a regulated market environment.

The agreement was reached following a competitive tender.

Through this deal, Eni completes its exit from the gas sector in Hungary in line with its disposals and asset rationalization plan. The exit process started in 2016 with the disposal of Eni’s gas marketing activities in Hungary in both free and regulated markets.

The transaction is subject to regulatory approval by the relevant authorities.

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