By Veronika Gulyas

BUDAPEST--French energy giant GDF Suez (GSZ.FR) will sell its electricity trading business in Hungary to MET Zrt, a Hungarian energy trading company partly owned by MOL Nyrt., GDF told The Wall Street Journal Tuesday.

MET Magyarorszag Energiakereskedo Zrt. won the right to take over the electricity trading arm at a tender, for an amount that neither of the parties revealed. The transaction is subject to Hungary's competition office giving the go-ahead.

The electricity portfolio accounts for 0.5% of the Hungarian electricity trading market.

GDF Suez will stay in the Hungarian natural gas distribution market, the company said in an e-mailed response to The Wall Street Journal.

Write to Veronika Gulyas at veronika.gulyas@wsj.com; Twitter: @VeronikaGulyas1