14
December
2017
|
14:00
Europe/Amsterdam

RWE Power and EnBW sell their stakes in the Hungarian company Mátra

Purchaser is a consortium of EP Holding and Mészáros

RWE Power and EnBW are selling their interests in the Hungarian electricity producer Mátrai Erőmű Zrt. (Mátra) to a consortium consisting of the Czech holding company EP Holding and the Hungarian investor Lőrinc Mészáros. RWE Power and EnBW own 50.9 percent and 21.7 percent of Mátra, respectively. A non-disclosure agreement was signed in respect of the purchase price. The transaction is subject to the approval of the relevant competition authorities as well as the Hungarian energy authority. The deal is expected to close in the first quarter of 2018.

In 2016, RWE transferred its retail and grid activities in Hungary to its subsidiary innogy. With the sale of its stake in Mátra, RWE continues to press forward with the Group’s strategic reorientation. For the generation business, this involves focusing on the core markets, i.e. Germany, the United Kingdom and the Benelux countries. The transaction will involve EnBW shedding its non-strategic interest. The sale is in line with the restructuring of the portfolio of the company, which has been pursuing a resolute investment strategy oriented towards renewable energy since 2012.

Mátra has a generation capacity of around 960 megawatts and is supplied by opencast mines in Visonta and Bükkábrány. Biomass, photovoltaics and natural gas are also used in addition to lignite. The company has a workforce of just over 2,000 employees.