PannErgy sold the distribution system of the Debrecen utility by selling the entire share of TT-Geotermia Zrt. – the company announced this on the website of the Budapest Stock Exchange on Tuesday.
According to the information, PannErgy Geothermal Power Plants Zrt., which is 100% owned by PannErgy Plc.
is the sole owner of TT-Geotermia Zrt. TT-Geothermia owns PannErgy’s utility distribution system in Debrecen, which consists mostly of old equipment and devices. Their operation and related services are not part of PannErgy’s strategy for renewable energy production and do not generate significant economic results.
According to the sale and purchase agreement, the sale price of all shares representing the business share is HUF 90 million. The name of the buyer was not disclosed. The transaction will not result in an update of PannErgy’s public EBITDA plans. In the 2021 business year, these items represented approximately HUF 850 million in additional sales revenue and an equal amount of additional selling expenses, the information states.
The shares of PannErgy Plc. are traded in the premium category of the Budapest Stock Exchange. The price of the paper on Tuesday was HUF 1,010, the share reached a historical minimum of HUF 126 and a historical maximum of HUF 2,400.
debreceninap.hu
