Extraordinary Announcement

Source Company Press Release
Company Opus Global Nyrt., MVM
Tags Country: Hungary, M&A: Asset Deal, Deals, Segment: Power
Date December 30, 2019

OPUS GLOBAL Public Limited Company (registered seat: 59 Andrássy Street, Budapest, HU-1062; company registration number: 01-10-042533, hereinafter referred to as: ‘Company’) hereby informs the Esteemed Investors that on 23th December 2019, the Company and the STATUS Energy Magántőkealap (registration number: 6122-53; managed by: OPUS GLOBAL Investment Fund Management Private Limited Company /registered seat: 59 Andrássy Street, Budapest, HU-1062; company registration number: 01-10-045654/, hereinafter referred to as: ‘STATUS Energy) – in accordance with the negotiations that have begun and have been conducted successfully following the Letter of Intent announced on 20th November 2019 by the Company and STATUS Energy, as sellers1 - entered into a contract with MVM Hungarian Electricity Private Limited Company (registered seat: 1031 Budapest, Szentendrei út 207-209.; authority of registration: Company Registry Court of Budapest-Capital Regional Court; company registration number: 01-10-041828; ’MVM’), as buyer.

By signing the above contract, the parties have agreed in the sale of the 72.66% indirect ownership interest in Mátrai Power Plant Closed Company Limited by Shares (registered seat: 3271 Visonta, Erőmű utca 11.; authority of registration: Court of Registration of the Court of Eger; company registration number: 10-10-020024; ‘MERT’) by the Company and STATUS Energy and the acquisition of the above ownership interest by MVM.

The theoretical date of the closing of the transaction is the 5 th business day following the – contractual and statutory – fulfillment of the closing conditions.

In connection with the concluded purchase agreement, the Company emphasizes to the Esteemed Investors that during the future energy expansion it intends to place special emphasis on the production of electricity from renewable energy sources and the development of the commercial portfolio deriving from the utilization of power plant capacities in the course of competing projects , so instead of MERT's capabilities, it wants to expand into these resources as a strategic direction.

Mátrai Erőmű ZRt, based in Visonta, is one of the reliable base units of the Hungarian electricity system. Its main activity is the production of electricity. With a built-in capacity of 950 MW , Mátrai Erőmű ZRt. Is the largest coal-fired power plant in the country. The company generates electricity from lignite produced by open-cast technology in its own mines. The company produces about 13% of the electricity consumption of the Hungarian national economy.

Source: EvaluateEnergy® ©2024 EvaluateEnergy Ltd