Hungary flag (Photo: Pixabay.com)
The Hungarian national power company MVM Zrt. signed a contract on purchasing shares with the Serbian Maneks Group, by which it will increase its stake in the companies Energotehnika Juzna Backa and Elektromontaza Kraljevo from 33.4 to 60 percent, the eKapija website reported on July 17.
According to MVM, the transaction is to be completed in the third quarter of 2025 and represents one more significant step in the expansion of the presence and portfolio of MVM Group in Serbia.
“Strengthening the position on the Serbian energy market is one of the key strategic goals of MVM Group in the region. Besides the favorable market environment and the current privatization processes, Serbia’s geographic position is strategically important because it represents a natural entry point for MVM’s further expansion to other Balkan countries,” the statement of MVM Group reads.
Energotehnika Juzna Backa and Elektromontaza Kraljevo are among the leading companies in Serbia in the construction of energy facilities, and MVM Group obtained a minority stake in them in 2022.
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