The investment holding company is expanding its strategic portfolio with a gas network
OPUS GLOBAL Plc. has signed a sales agreement with Swiss-based MET Group for the acquisition of 50 percent of MS Energy Holding AG, by which the listed company will acquire a 49.57 percent stake in TIGÁZ Földgázelosztó Zártkörűen Működő Részvénytársaság. Pursuant to the agreement signed on 11 March 2021, OPUS will also acquire control rights in the natural gas distribution company upon closing the transaction. At the same time, the Board of Directors of the listed company decided to establish OPUS Energy Kft., which – in the event of a successful transaction – consolidates TITÁSZ Áramhálózati Zártkörűen Működő Részvénytársaság.
TIGÁZ is Hungary’s largest pipeline natural gas distributor, operating in the north-eastern region of the country as a natural gas distribution licensee. With the acquisition of the company operating the longest network of more than 33 thousand kilometres, OPUS GLOBAL Plc. has started replenishing its energy portfolio; with the transaction it expresses the long-term commitment of the holding in the field of domestic energy investments. Dzsubák Attila Zsolt, CEO of OPUS GLOBAL Plc., said in connection with the acquisition: “TIGÁZ will be a valuable element of OPUS’s asset portfolio, which, by providing predictable, stable revenue, will significantly contribute to the profit-generating capacity of our group. The acquisition of the Trans-Tisza gas network provides a solid basis for the further expansion of OPUS GLOBAL Plc.’s energy division and the strengthening of our regional presence. Our strategic goal is to make our Company a key player in the domestic energy market in the long run.”
OPUS GLOBAL Plc. sees the eastern region of Hungary as a growth potential, and the group’s other local interests also provide additional synergies for the new subsidiary. TIGÁZ is one of the most successful domestic gas pipeline operators, in 2019 the company’s sales revenue was HUF 32 billion, its operating profit was HUF 6.7 billion and its after-tax profit was HUF 2.3 billion. The goal of OPUS GLOBAL Plc. is to ensure and increase the company’s predictable revenue-generating capacity by implementing further network development investments. Following the approval of the Hungarian Competition Authority, the transaction is expected to close on 31 March, after which the company will continue its natural gas distribution activities under the name OPUS TIGÁZ Gázhálózati Zrt.
As previously announced, on 23 December 2020, OPUS GLOBAL Plc. entered into a binding agreement with E.ON Beteiligungen GmbH for the acquisition of E.ON Tiszántúli Áramhálózati Zrt. (TITÁSZ). As a technical step in the transaction process, the Board of Directors of the listed company decided to establish OPUS Energy Kft. together with Status Energy Kft., with fifty-fifty percent ownership, through which it intends to consolidate the Trans-Tisza electricity company. Both TIGÁZ and TITÁSZ will be a valuable element of OPUS’ asset portfolio, which, by providing predictable and stable revenues, will make a significant contribution to the listed company’s capacity to generate profits. Following the closing of the transaction which is dependent on the signing of the final transaction agreements and the clearance of relevant authorities, OPUS GLOBAL Plc. will become a strong player in the domestic energy market.
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OPUS GLOBAL Plc. is one of the most capitalised listed investment holdings in Hungary, the 5th largest company on the BSE. The listed company realises its investments in the strategic sectors of the Hungarian economy through companies that are market leaders or have a special key position, controlled by cash flow / dividends. In the course of strategic investments, it seeks to acquire majority ownership in specific companies, thus ensuring oversight of operational decisions. In the portfolio of OPUS GLOBAL Plc., tourism, food industry, construction industry and energy, and asset management divisions and companies achieved a total EBITDA of HUF 24 billion in 2019.
TIGÁZ Zrt. is a reliable, stable company with a history of several decades, whose main task is to ensure an uninterrupted supply of natural gas. The company operates a 33,760 km long gas pipeline network in Hungary, which provides gas to more than 1.2 million households in 1,092 settlements. Over the past almost 70 years, it has accumulated outstanding expertise at the industry level and has become a key player in the Hungarian energy industry. The value of the company’s gas pipeline assets exceeds HUF 110 billion, and the company spends HUF 6 billion annually on gas network investments. In 2019, the company achieved an operating profit of HUF 6.7 billion.