ALTEO Energiaszolgáltató Nyrt. (BUSE:ALTEO) agreed to acquire Sinergy Kft from Budapesti Elektromos Mûvek Rt. (BUSE:ELMU) and North Hungarian Electricity Supply plc. (BUSE:EMASZ) on December 3, 2014. Alteo will finance the acquisition with the proceeds of bonds issued this year. Sinergy reported sales of HUF 4.2 billion for the year 2013. The transaction depends on the approval of Hungary's competition and energy authorities as well as on the fulfillment of conditions specified in the sales contract. The transaction is expected to be closed at the end of March 2015.

ALTEO Energiaszolgáltató Nyrt. (BUSE:ALTEO) completed the acquisition of Sinergy Kft from Budapesti Elektromos Mûvek Rt. (BUSE:ELMU) and North Hungarian Electricity Supply plc. (BUSE:EMASZ) on May 4, 2015.