MET Group, one of the fastest growing European energy companies headquartered in Switzerland, announces interest to acquire 54.07% of the shares in UAB koncernas ACHEMOS GRUPĖ (Achema Group), the Baltic’s leading producer of nitrogen fertilizer and chemical products. The transaction aims to combine the complementary strengths of the two companies, thereby facilitating substantial value creation.
With 2023 being its second most profitable year, supported by consolidated revenue of EUR 24.5 billion, Swiss-based MET Group has the financial strength to continue its growth strategy. MET has identified Achema Group as the ideal partner for its growth: Achema is an outstanding company, with an experienced management and skilled employees – a company that perfectly fits into MET’s value chain.
Benjamin Lakatos, Chairman and CEO of MET Group commented: “This potential acquisition would be a significant step towards creating substantial value for the employees, the customers, and for the broader environment of Achema. We want a new prosperous era for Achema, and we are committed to developing solutions that are acceptable to all the stakeholders, based on a partnership philosophy.”
To close the transaction, customary due diligence and regulatory approvals are required. Additionally, MET plans to reach an agreement with the minority shareholders. As a result, a longer process involving several legal and procedural steps is expected.
Further updates will be provided as the process advances.
MET Group
MET Group is an integrated European energy company, headquartered in Switzerland, with activities and assets in natural gas and power markets. MET is present in 15 countries through offices, active on 30 national gas markets, and 39 international trading hubs. MET has extensive experience in operating green (renewable) and flexible (conventional) energy assets, thus providing the widest possible support to energy transition. In 2023, MET Group’s consolidated sales revenue amounted to EUR 24.5 billion, with a total traded volume of natural gas amounting to 88 BCM and total traded electricity of 68 TWh. www.met.com
Achema Group
Founded in 1994, Achema Group is one of the largest private companies and employers in Lithuania. The activities of the Group include fertilizer production and trade, agribusiness, handling and logistics, and other businesses. In the energy sector, Achema Group is active in gas production and trade, construction, and operation of wind farms in several EU countries, as well as generation and sale of green electricity from solar, wind and hydropower. The Group also holds a stake in KN Energies, the operator of Lithuania’s LNG terminal in Klaipeda, through which it procures a large proportion of the LNG for its fertilizer production, with natural gas being the main raw material and accounting for around 70% of the costs. The Group’s companies are working as an integrated value chain, with their products exported to more than 30 countries. Lyda Lubienė and her daughter Viktorija Lubytė together own a 54.07% majority stake in Achema Group. www.achemosgrupe.lt/en
To read the press release in Lithuanian please click here.