The Hungarian state-owned electric power company, MVM Zrt., has signed an agreement to increase its ownership stake in the Serbian companies Energotehnika Južna Bačka and Elektromontaža Kraljevo. The acquisition from the Serbian Manex Group will raise MVM’s share from 33.4 percent to 60 percent. The transaction is expected to be finalized in the third quarter of 2025 and marks a significant step in expanding MVM Group’s presence and portfolio in Serbia.
According to MVM Group, strengthening its position in the Serbian energy market is a key strategic goal. Serbia’s favorable market environment, ongoing privatization processes, and its strategic geographic location make it a natural gateway for MVM’s further expansion into other Balkan countries.
Energotehnika Južna Bačka and Elektromontaža Kraljevo are leading Serbian companies specializing in energy construction. MVM Group initially acquired a minority stake in these companies in 2022, and this latest move will give them majority control.
