Electricité de France International has purchased a majority shareholding in a Hungarian heat and power company from Finnish company Fortum and Japan’s Tomen Corp. The deal involves the transfer of shares accounting for 89.33 per cent of the shareholdings in Budapesti Erömü Rt (BERt), the leading Hungarian power producer, based in Budapest.
The sale requires the consent of Hungarian authorities and of certain lending institutions, but is expected to be completed at the latest by the summer of 2001.
BERt owns and operates six heat and power plants in Budapest. These have an aggregate capacity of 262 MWe and 2 618 MWt. The company, with a turnover of around $100 million, is currently expanding and modernising its business.
