Hungarian oil company MOL and Czech electricity generator CEZ have entered into a share purchase agreement with respect to 100% share capital of I&C Energo, an engineering and supply organization providing electrical instrumentation and control systems services.
I&C Energo is also engaged in the design of electricity generating structures, low-voltage and high-voltage electricity grids, consulting in power production and quality control areas, and implementing power consumption audits.
In 2007, the company’s total revenues were E58.1 million and its earnings exceeded E4.8 million. Purchasing a full control in I&E Energo is expected to enable MOL to acquire technological knowledge in power generation and transmission.