Hungarian MVM expects E.ON Energie Romania deal to close in the summer

Hungarian state-owned company MVM expects to complete its acquisition of the majority stake in E.ON Energie Romania's gas and electricity supply division by June or July, CEO Karoly Matrai told Portfolio.hu, as reported by Reuters. The official also said that MVM does not intend to sell the companies it plans to acquire in Romania and will source gas for Romanian clients locally.

The deal was signed in December 2024 and is currently pending necessary regulatory approvals. However, Romania's energy minister, Sebastian Burduja, voiced concerns over MVM's relations with Russia and the potential future sale of the Romanian energy provider to non-EU entities.

However, the MVM CEO said in the recent interview with Portfolio.hu that "Transporting Russian gas to Romania would impose enormous transit costs on us."

"Since domestic supply is always the most cost-effective option, if we receive approval for the transaction, we plan to supply our Romanian subsidiary primarily from local gas sources," he further stated.

Karoly Matrai also noted that the June-July closing schedule for the deal is feasible.

E.ON Energie Romania serves approximately 3.4 million customers and is one of the largest energy providers in the country.

(Photo source: Facebook/E.ON)