The Hungarian state-owned energy company MVM looks set to has won the approval from the Hungarian asset manager to buy the natural gas units of German energy giant E.ON. The price estimates on the deal range from €800m to €875m, according to reports. The government signed a letter of intent to buy the units back in November, in line with its goal of nationalizing strategic segments like energy distribution. The government of prime minister Viktor Orban is intent on increasing the country’s energy security, as well as exercising greater control over the price of energy Hungarians have to pay.
