Romania’s Electrica reportedly bids for regional distribution branch Oltenia

Romania’s state-controlled electricity distribution and supply company Electrica (BVB: EL) has submitted a non-binding offer for the acquisition of Distribuție Energie Oltenia (DEO), the electricity distribution company controlled by the Macquarie investment fund, according to Economica.

It is the last major asset of all those purchased by Macquarie from CEZ four years ago in Romania that it still owns, according to sources in the energy market.

Since spring, representatives of the investment fund have held exclusive discussions regarding DEO with the French from Engie, active on the Romanian market with gas distribution and supply, and energy production from renewable sources, and who have made no secret in the past of the fact that they want a distribution network in Romania.

(Photo: Florin Brezeanu/ Dreamstime)