The Budapest office of Baker McKenzie has advised the MET Group on its divestment from Tigaz Zrt via the sale of 50% of the shares in MS Energy Holding AG, representing a 49.57% stake in Tigaz, to Opus Global Nyrt. Kertesz & Partners reportedly advised the buyer.
Baker McKenzie described the deal as "a major transaction on the Hungarian energy market, as Tigaz is Hungary’s largest pipeline natural gas distributor." Within the framework of the transaction, MET also acquired a 77 MWp photovoltaic power plant project in the Hungarian municipality of Buzsak from Opus Global.
The transaction closed on March 31, 2021. Financial details were not disclosed.
The MET Group is a Switzerland-based energy company that primarily focuses on the natural gas, power, and oil markets. The company was founded in 2007 and currently employs around 1,600 people in 15 European countries.
Baker McKenzie's team was led by Partner Akos Fehervary and was primarily managed by Associate Daniel Orosz.