Romanian Competition Council announced that it will inspect the recent takeover of the Romanian subsidiary of Swiss Repower by MET Group. The takeover was agreed in July, but the deal has to be approved by the Competition Council which is expected to be completed by the end of September. The contracting parties have agreed not to disclose the sale price.
MET Group is already present in Romania through MET Romania Energy Trade, established in 2009, which is why the Competition Council has to approve the merger. Repower was present in the Romanian market through Repower Furnizare Romania since 2010, a company with about 30 employees which held about 5 % share in small businesses supply market. Last year, the company recorded a loss of 2.9 million euros, after achieving profit of some 27,000 euros in 2014.
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Tags: acquistion, Competition Council, electricity, electricity supply, MET, MET Group, Repower, Romania