Premier Energy has already signed an agreement to acquire the Evryo Group network, whose key asset is Distributie Energie Oltenia (DEO). According to Premier Energy, this is the third-largest electricity distribution network in Romania. It serves approximately 1.5 million customers. The seller is the Australian investment firm Macquarie Asset Management. Premier Energy plans to finance the purchase either entirely or at least partially through the issuance of bonds. The group's shareholders are expected to vote on the approval of the transaction at the next general meeting, which will be held on June 10.

Premier Energy has been operating in the Romanian market since 2013. To date, it has operated there as an electricity producer and seller, as well as a gas supplier. The planned acquisition would also give it its own distribution network. “By expanding our operations in Romania to include the regulated electricity distribution segment, we will increase the stability and predictability of our cash flows while strengthening the group’s financial profile,” Petr Stöhr, a partner at Emma Capital and CFO of Premier Energy, told the Czech website Seznam zprávy.

In addition to Romania, Premier Energy also operates in Moldova and Hungary. Last year, the group announced that it had purchased a 51% stake in a large wind farm in Hungary from the Spanish energy company Iberdrola for 128 million euros. It had previously acquired a wind farm in Romania from Iberdrola as well.

Prepared by foreign office CzechTrade Romania
Source: E15.cz