The Hungarian Competition Office clears the acquisition of the prospective owner and operator of the gas interconnector between Slovakia and Hungary by two state owned companies (Magyar Villamos Művek / MFB Invest Befektetési és Vagyonkezelő / Magyar Gáz Tranzit)

The Hungarian Competition Office (“HCO”) has approved the acquisition of joint control by Magyar Villamos Művek Zrt. (“MVM”), MFB Invest Befektetési és Vagyonkezelő Zrt. (“MFB Invest”) over Magyar Gáz Tranzit Zrt. (“MGT”), the prospective owner and operator of the gas interconnector between Slovakia and Hungary. MGT will develop and operate for 25 years the planned two-way high pressure (75 bar) gas pipeline that should cover a length of approximately 115 kilometres (out of which 94 km is in the territory of Hungary and 21 km in the territory of the Slovak Republic) and will have an annual transmission capacity of 5 billion cubic meters in cooperation with Slovak Eustream a.s. The planned the start of operation is on 1 January 2015. Before the transaction, MGT was solely controlled by MVM, having

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Zsuzsanna Németh, The Hungarian Competition Office clears the acquisition of the prospective owner and operator of the gas interconnector between Slovakia and Hungary by two state owned companies (Magyar Villamos Művek / MFB Invest Befektetési és Vagyonkezelő / Magyar Gáz Tranzit), 21 March 2012, e-Competitions Bulletin Energy & Mergers, Art. N° 49212

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