The MVM Group, the second largest company in Hungary, signed an agreement on Monday to acquire the household and customer solutions division of E.ON in Romania.

According to the agreement, MVM will acquire a 68% stake in E.ON Energie Romania and a 98% stake in E.ON Asist Complet, a press release of the Hungarian group informs.

The transaction is expected to be finalized in 2025, after all the necessary approvals had been obtained from the competent authorities. The two companies have decided not to disclose the value of the transaction.

„Today [Monday, editor’s note]’s step is an important stage for the regional expansion of the MVM Group. By acquiring a majority stake in E.ON Energie Romania, we are strengthening our position in Central and Eastern Europe, ensuring a solid base and continuity for our customers in Romania, who will continue to benefit from the highest quality services. Together with the management team of our future member companies, we aim to identify and capitalize on new synergies that will support the development of the Romanian market and strengthen the role of the MVM Group in the region. I am enthusiastic to work with our colleagues in Romania and I am confident that together we will build a successful future,” Karoly Matrai, CEO of MVM Group, was quoted as saying in the press release.

The operational activities of E.ON Energie Romania and E.ON Asist Complet will continue to run as normal. The MVM Group aims to maintain the stability of the operations taken over and to contribute to their long-term development, the press release states.

„E.ON is constantly reviewing its portfolio to support its strategy focused on sustainability, digitalization and growth. The decision announced today is the result of a detailed analysis, which took into account the impact and dynamics of the changes in the energy sector on the E.ON Group’s extended operations. This transaction will allow the company to focus on priority areas aligned with its objective to become a catalyst for the energy transition in Europe,” said Marc Spieker, Chief Operating Officer – Commercial of E.ON SE.

This transaction is in line with the regional expansion strategy of the MVM Group, which is constantly pursuing business opportunities in Central and Eastern European markets. Through this regional expansion, the MVM Group intends to further strengthen the security of energy supply in the region.

AGERPRES