The Hungarian State Company MVM withdraws from the transaction by which he intended to buy the Gas and Electricity supplier E.ON Romania, according to a company response transmitted to the profile publication e-nergia.ro. The reason is an additional investigation of this transaction from the European Commission, which, through the FSR (Foreign Subsidies Regulation), would have requested the Hungarian company additional information related to the transaction in Romania.
“Despite the difficulties greater than the anticipated difficulties we are currently facing in Romania, related to the approval of the foreign direct investment (FDI) for the transaction considered, we remain fully employees and do everything that is to obtain the necessary approval and to successfully complete the transaction.
However, given the need to balance our costs and resources and taking into account the current uncertainty regarding the calendar and the result of the FDI decision, MVM has decided to temporarily withdraw from the FSR process (the investigation of the European Commission – no). We intend to relaunch the process as soon as there is a higher clarity on a positive result of the FDI approval, ”say MVM representatives.
HotNews.ro also requested the point of view of E.ON Romania, which we will publish as soon as we receive it.
Last week, MVM representatives stated, in a response to Hotnews.ro, that the Hungarian group set out to become an important regional player by 2035, and the extension of activity in Romania is a logical choice, due to the geographical location.
What an argument has the Hungarian company MVM, who wants to buy E.ON Romania, in the face of suspicions that he will bring Russian gas. The decision will belong to CSAT
MVM claimed to buy gases from Romanian producers
Asked where they will buy the gas they will deliver to Romanian consumers, MVM officials have stated that, in countries that have domestic production, such as Romania, the purchase of gas from local producers represents the most reliable and economically reasonable choice. “Therefore, the market for domestic producers will be our main priority.”
“We keep all the options open and actively analyze future opportunities, such as offshore gases in Neptun Deep. Our trading experts permanently evaluate the market and, if this source will contribute to the optimization of our acquisition portfolio at that time, we will surely consider it.”
Ask what garages offer that the gas delivered to Romania will not come from Russia, MVM representatives replied:
- “Contrary to the concerns expressed in the public space in Romania, it is important to emphasize that a new EU regulation project, discussed, will prohibit the export of Gas of Russian origin to other Member States from January 1, 2026. Within the Repowereu program, Hungary will not be able to sell Russian gases to any country in the EU, including Romania.
- This regulation project, to be voted by the Member States in the fall, under the presidency of Denmark, is expected to be adopted by a qualified majority. Therefore, even during the transition period 2026-2027, the MVM group will not be able to export Russian gases to Romania or to another Member State.
- Thus, it is fully guaranteed that the gas delivered to Romania cannot come from Russia. In addition, the simple fact that we will enter the local market as shareholders with the Romanian state, where ANRE has obviously strict supervision on our processes, represents a guarantee itself ”.
The transaction by which MVM wanted to take over E.ON Romania raised national security issues
MVM concluded, at the end of last year, an agreement with E.ON for taking over the local subsidiary of the German company. E.ON Romania is one of the largest suppliers of electricity and gas in Romania, with a portfolio of over 3.4 million residential and business customers.
The Commission for examining foreign direct investments did not issue an opinion until August, when the transaction was sent for analysis to the Supreme Defense Council of the country.
The Commission had been notified by the Romanian Ministry of Energy, which claimed, in January, that the transaction raises security issues through its potential to undermine the energy independence of Romania and to promote the external influences of the European Union.
Mvm voc. It has extended commercial relations with Gazprom and Rosatom, Russian companies under international sanctions, through which Hungary maintains an addiction.
