Premier Energy completes takeover of major electricity supply firm in Romania

Premier Energy, one of the biggest suppliers and distributors of natural gas in Romania, announced it completed the acquisition of electricity supply firm CEZ Vanzare from Macquarie Asset Management.

The deal is estimated by Profit.ro at around EUR 15 million. It brings Premier Energy's total portfolio of customers to 2.4 million.

CEZ Vanzare is a Romanian electricity distributor with a portfolio of 1.4 million customers and was part of the Czech group CEZ before being bought by the Australian infrastructure fund Macquarie along with CEZ's other assets in Romania.

Following the takeover, CEZ Vanzare is rebranded as Premier Energy Supply.

Premier Energy, owned by the investment fund Emma Capital, has been active in Romania for ten years in the distribution and supply of natural gas, as well as in the production and supply of electricity from renewable sources.

"This transaction is a great joy and achievement for us. The acquisition of CEZ Vanzare is an extremely important step in our local and regional development strategy, in line with the announced plan to become a regional energy platform. We are long-term involved in the distribution and supply of natural gas in Romania, as well as in the production and supply of electricity from renewable sources. We have a business that expands both organically and through acquisitions and mergers, and our goal is vertical integration. Therefore, the acquisition of CEZ Vanzare creates synergies in our group and complements our portfolio," said Jose Garza, CEO of Premier Energy, when announcing the deal in December.

(Photo source: Opolja/Dreamstime.com)