The agreement was signed in 2024 and provided for MVM’s acquisition of a 68% stake in E.ON Energie Romania and a 98% stake in the technical services company E.ON Asist Complet.
The transaction encountered significant obstacles from the Romanian authorities after the Ministry of Energy notified the Commission for the Examination of Foreign Direct Investments (CEISD), citing concerns related to national security. At the time, the ministry was headed by Sebastian Burduja.
According to the Romanian authorities, MVM maintains “extensive commercial ties with Gazprom and Rosatom,” Russian companies that are subject to international sanctions. In addition, concerns were raised that the shares of E.ON Energie Romania could, at a later stage, be resold to non-European entities, potentially affecting control over critical energy infrastructure.
In August 2025, the CEISD issued a negative opinion on the proposed transaction, leading to the referral of the case to Romania’s Supreme Council of National Defence (CSAT) for further review. This process ultimately resulted in the cancellation of the agreement.
In a statement, MVM expressed regret that “the Romanian government did not support the transaction, despite the fact that the parties involved cooperated with the authorities in every possible manner.” The Hungarian company also stressed that it continues to prioritize business opportunities across the broader region, reaffirming its commitment to strengthening security of supply through regional expansion.
The case once again underscores the growing influence of geopolitical and energy-related considerations on major cross-border transactions in the European energy sector.
