E.on has bought a majority stake in Edasz, a Hungarian power supplier, triggering a public bid for the whole company. The move further underlines Eon's interest in the Hungarian energy market and leaves it with control of three power suppliers and a minority stake in a gas supplier. Eon bought a 27.7% share in Edasz from Electricité de France, taking its stake to 55.4%. Under Hungarian stock exchange rules it is compelled to launch a public offer for the remaining shares. Eon also holds 92.4% Dedasz and Titasz, two other Hungarian power suppliers, and 31.2% of Koegaz, a gas distributor (Financial Time, 4/29).
March 31, 2002