EXCLUSIVE Romgaz could buy gas and electricity supply from E.ON, which means more than 3 million customers – Sources / Company boss: We are prospecting the market

​Romgaz, the largest gas producer in Romania, intends to expand its business in the area of ​​electricity and natural gas supply. The company is analyzing the option of acquiring an already mature business, focusing on the supply of natural gas and electricity from E.ON Energie, converging sources from the market told HotNews.ro. E.ON Energie Romania, a member of the German E.ON Group, is one of the largest suppliers of gas and electricity in Romania, with a portfolio of around 3.4 million customers.

Răzvan Popescu: We do not rule out any possibility

Romgaz is prospecting the market for the acquisition of assets in the area of ​​gas and electricity supply, said Răzvan Popescu, the general director of the company, contacted by HotNews.ro. He also said that due-diligence analyzes will be done. (This involves a thorough analysis of the financial statements, activities and risks that the companies targeted for acquisition would present).

Asked about the possibility of purchasing the supply from E.ON, Popescu stated that “no possibility is excluded”. Popescu claims that there is currently no agreement with E.On.

What is certain is that Romgaz wants to gain as large a share as possible in the supply area and to significantly increase its customer portfolio, and the way in which this target can be reached is currently being analyzed. E.On already has a market share of over 10%, being one of the most important suppliers of both natural gas and electricity.

Romgaz ended 2023 with a net profit of 2.8 billion lei.

E.ON Energie recorded a turnover of 13.7 billion lei and a loss of 358.8 million lei.

The majority shareholder of E.ON Energie Romania is E.ON Romania SA with 68%. The supply activity is separated from the distribution activity, which serves 20 counties.

Reference for the purchase of legal services

On the agenda of the AGM meeting on April 11 is “Approval of the purchase of legal services of consultancy, assistance and/or external legal representation of SNGN Romgaz SA necessary for the purchase of a package of shares/assets / in the case of a business transfer of to a company active in the field of electricity and natural gas supply”.

According to a report on the need to purchase these services, the legal assistance will also consider “the legal due-diligence analysis of a target company active in the field of electricity and natural gas supply”.

Also, the legal assistance will help Romgaz SA in order for it to take a final decision in relation to the selected procurement target, as well as assistance in the negotiation and completion of the transaction.

Furthermore, it will assist, advise and represent SNGN Romgaz SA in all steps related to the realization of the transaction, so that the project becomes operational.