Hungary's energy efficiency firm E-Star has finalised the acquisition of Polish-based peer EETEK, thus expanding its presence on the Polish market, the company said in a filing to the Budapest stock exchange (BSE). The EUR 21mn deal will grant E-star access to energy generation capacities in Mielec and Gorlice, southeastern Poland. As a result of the acquisition, the company's revenues are expected to rise by EUR 40mn, while the EBITDA is seen to surge by EUR 5.1mn. Earlier this year, E-Star had announced a EUR 215mn expansion programme by 2015, including a combined EUR 90mn investments in Poland. To finance its international projects, E-Star attracted HUF 2.4bn (EUR 8.9mn) through private placement of shares in June. It also sold a total of HUF 2.2bn bonds to institutional and retail investors in end-May. |
Hungary's investment funds had aggregate assets of HUF 3.657tn (EUR 11.98bn) as of end-February 2013, up by 3.2% m/m, MTI news agency reported citing data from the association of investment funds ... more
The number of employees in Hungary's public and private sectors fell for the tenth straight month in January 2013 declining by 0.6% y/y to 2.574mn, the statistics office informed. The decline ... more
The assembly of state-owned Hungarian Electricity Works (MVM) has approved the purchase of the local gas business of German power utility E.ON, Hungary AM reported, citing local daily Magyar ... more