Hungarian electricity distributor and supplier Demasz has become the target of an acquisition bid by EdF International, a fully-owned subsidiary of Electricité de France (EdF).

The company, which already holds 60.9% of the equity, issued a public tender for all outstanding shares at a price of HUF 20,000/share ($93/share), a 30% premium over the closing price preceding the suspension of trading in Demasz shares.