Magyar Villamos Muvek Zrt. agreed to acquire gas-fired combined cycle power station - Csepel in Budapest from Alpiq Holding AG (SWX:ALPH) on September 22, 2016. The transaction is pursuant to Alpiq’s strategy of portfolio streamlining of non-strategic assets. The signing of a share purchase agreement and completion of the intended transaction is subject to various decisions and regulatory approvals and is expected to close by the end of 2016. Alpiq will use the divestment proceeds to further reduce its net debt. Magyar Villamos Muvek Zrt. cancelled the acquisition of gas-fired combined cycle power station - Csepel in Budapest from Alpiq Holding AG (SWX:ALPH) on September 22, 2017.