MET and Innogy groups (ELMŰ-ÉMÁSZ) signed an agreement on the acquisition by the MET of RWE Energie (RWEE) Romania, owned by Innogy. Following this acquisition, MET enters among the top three suppliers on the competitive energy market in Romania, says MET in a press release.
MET Group is present in Romania through its subsidiary MET Romania Energy SA. “The acquisition of RWEE represents an excellent opportunity to integrate on the Romanian market a considerable portfolio of electricity supply with the potential to achieve synergies and to extend MET operations in Romania”, the company adds, adding that “by combining the two portfolios, MET will reach a market share of almost 10%, the third position on the competitive energy market in Romania, with a total of about 5000 consumption points”.
The main activity of RWEE is the supply of electricity and natural gas to business customers in Romania, with an emphasis on SME customers, especially energy intensive industries and chain of stores.
The transaction ended in a competitive bidding. Commenting on the transaction, Petre Stroe, CEO of MET Romania, said: “Following the acquisition of the Repower Energy Provider in 2016 and RWEE at present, portfolios will result in an increase in the operational efficiency of MET in Romania by offering high-standard services”.
The transaction is due to be completed in the second half of 2018, subject to the usual closure conditions – including approvals under the relevant regulations.
About MET Group
MET Group is an integrated European energy company. Based in Switzerland, MET is an active participant in the European gas, electricity and oil markets. The Group is present in 15 countries through its subsidiaries, in 28 national gas markets and 23 international trading venues. MET sold in 2017 35 billion cubic meters of natural gas (Europe’s total gas consumption was 465 billion cubic meters in 2017).
About RWEE
RWEE is a wholly owned subsidiary of ELMŰ and ÉMÁSZ, the Hungarian group part of the Innogy Group. The company was set up in 2008 and acquired by RWE in 2014. The main activity of RWEE is the supply of electricity and natural gas to non-household customers.
