E.ON sells Czech consumer business to Hungary's MVM

© Reuters.

BERLIN (Reuters) – German utilities company E.ON (DE:) will sell its entire end-customer electricity and gas business in the Czech Republic to Hungarian grid operator MVM, E.ON said in a statement on Saturday.

The Czech business belonged to Innogy , which E.ON bought in 2019. As part of the antitrust approvals process for the acquisition, E.ON had to dispose of various assets, including the Czech business.

The business being sold has 1.2 million gas customers and 0.4 million electricity customers.

“This transaction marks the final step in the fulfillment of the remedies offered by E.ON in the context of the antitrust approval of E.ON’s takeover of Innogy,” E.ON said.

No financial details were disclosed.

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