Status Energy Private Equity Fund to become TIGÁZ Zrt’s indirect owner
Swiss-based MET Group has signed an agreement with Status Energy Group for an indirect investment in TIGÁZ Zrt. By this, Status Energy Private Equity Fund has acquired an indirect share of 49.57 percent in TIGÁZ Zrt. Balázs Lehőcz Gábor, the current CEO of TIGÁZ, will remain responsible for the operational and professional management of the company.
TIGÁZ Zrt. is a member of Swiss-based MET Group, which is involving a strategic partner in the gas distributor in order to support its asset portfolio expansion via the capital injection provided by the investor. According to the partnership agreement, Status Energy Kft. – a subsidiary of Status Energy Private Equity Fund – directly acquires a 50 percent stake in MS ENERGY HOLDING AG (formerly MET CEAM Holding AG), the sole owner of MS Energy Holding Zrt, being the majority shareholder of Tigáz Zrt., by which it indirectly acquires a 49.57 percent stake in TIGÁZ Zrt.
TIGÁZ Zrt. will remain under MET Group’s control and consolidation and Mr. Balázs Gábor Lehőcz will remain the company’s CEO and Chairman of the Board of Directors. He will be aided by the Deputy CEO for Business Development and Strategy, Mr. Csaba Kiss, who has been delegated by the Status Energy Group. The investor is also appointing Mr. Csaba Baji, Head of Opus Global Plc.’s energy division, to TIGÁZ Zrt’s Board of Directors.
MET Group has reorganized its management structure in 2019 and established three divisions – Assets, European Sales and Trading & Wholesale – in order to facilitate its growth strategy. The gas distribution business is part of the Asset division.
Status Energy Private Equity Fund
Opus Global Investment Fund Manager Zrt. (formerly Konzum Investment Fund Manager Zrt.) launched its funds with the participation of Hungarian investors. 53 percent of the fund manager is privately owned by Mr. Lőrinc Mészáros, with the remaining 47 percent in the ownership of Opus Global Plc. Facilitating the fund manager’s strategy Status Energy, launched with subscribed capital of HUF 10 billion, invests in production and service provider companies in the energy sector.
MET Group is a Swiss-based energy company with activities in European natural gas, power and oil markets. By way of its subsidiaries, MET is present in 15 countries, 26 national gas markets and 22 international trading hubs. In 2018, MET Group’s consolidated sales revenue amounted to EUR 10.72 billion, 96% of which was derived from activities on international markets.
TIGÁZ Zrt. is Hungary’s largest natural gas distributor, offering its services to customers connected by 33,000 km of pipelines. With its almost 70-year history, TIGÁZ is one of the longest-established companies of Hungary’s domestic energy sector. The company has operation centers in Eger, Debrecen, Gödöllő, Miskolc and Szolnok, and employs a workforce of more than 1,100 people. Swiss-based MET Group acquired 98.99 percent of TIGÁZ shares in June 2018.