Singapore’s Keppel to Buy 20% Stake in Energy Firm Met Holding
Keppel Infrastructure, a unit of Singapore-listed Keppel Corporation, will buy stake in Met Holding, a Switzerland-based energy company with strong links to Hungary, for 53 million euros in cash, according to a joint statement.
* Met supplies natural gas and electricity in Central and Eastern Europe and is active in 26 national gas markets and 22 international trading hubs.
* Met sees acquisition opportunities as a shift toward renewables drives industry consolidation.
* Keppel says Met investment is the company’s first foray into the European energy market and it’ll seek joint investment opportunities in the region.
* Deal subject to regulatory approvals.