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Article: AES Reaches Agreement With the Hungarian Government.
- Article from:
- Business Wire
- Article date:
- December 20, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
ARLINGTON, Va.--(BUSINESS WIRE)--Dec. 20, 2001
The AES Corporation (NYSE:AES) announced today that its subsidiary, AES Summit Generation Limited, has resolved its disputes with Magyar Villamos Muvek Rt. (MVM), Allami Privatizacios es Vagyonkezelo Rt. (APV) and the Republic of Hungary in connection with the 1996 privatization of the AES Tisza II Eromu Kft. and AES Borsod Energetikai Kft. power companies.
The disputes arose due to differing interpretations of the obligations of the parties to the original privatization over the construction of a new power plant at Borsod, the Borsod CFB, the retrofit of AES Tisza II and ...