Czech billionaire Petr Kellner has bought a Romanian gas distributor for some EUR 9 million.

The purchased company is called Covi Construct and distributes gas in the town of Voluntari near Bucharest, reports local Ziarul Financiar. It had a turnover of RON 32 million (EUR 7 million) in 2016.

Covi Construct was owned by three Romanian investors, who received a gross price of EUR 8.87 million for their shares, according to data published in the Official Gazette. The transaction was carried out by the company Ligatne Limited, owned by Kellner’s investment fund PPF Investments.

Petr Kellner has bought several gas distribution companies in Romania. In 2013, he bought Petrom Distributie Gaze, the gas distribution division of local oil&gas group OMV Petrom.

editor@romania-insider.com