Hungarian state-owned energy company MVM has signed an agreement with the Serbian Maneks Group to increase its 33.4 per cent stake in Energotehnika Južna Bačka and Elektromontaža Kraljevo to 60 per cent.
Strengthening its presence in the Serbian energy market is one of MVM Group’s priorities in the region. Besides the favourable market environment and the ongoing privatisations, Serbia’s geographical location is of strategic importance as a natural starting point for MVM’s expansion in the Balkans.
Energotehnika Južna Bačka and Elektromontaža Kraljevo are Serbia’s leading energy construction companies with decades of experience. MVM Group acquired a minority stake in 2022, creating opportunities to actively participate in major energy investments in the region, including power plant reconstructions, renewable energy developments and smart meter installations.
The company decided to further increase its stake by exercising the call option granted in the previous contract. The transaction is expected to close in the third quarter of 2025.