MET Group to take over Repower’s business in Romania
Zug, 25 July 2016 – Swiss-based MET Group will acquire the entire electricity supply business of Repower in Romania, including its local staff. The acquisition marks the acceleration of MET’s expansion strategy in the CEE region.
MET Group, which has had operations in Romania since 2009, will take over Repower Romania’s entire local business unit that covers approximately 5% of the local competitive market. MET Group is determined to maintain the business continuity. The deal is expected to be closed in September 2016.
“We actively look for new business opportunities that strengthen our position in the core areas of our operations focusing on Europe. Taking over the local unit of Repower is a great opportunity for MET Group to expand its retail portfolio in Central and Eastern Europe. Moreover, it enables us to capitalize on synergies with our existing electricity and natural gas operations in Romania, in order to accelerate our growth strategy,” said Péter Pozsgai, Head of Strategy and Business Development at MET Group.
Repower has been present on the Romanian market since 2010, supplying electricity and services to small and medium-sized enterprises. The transaction is in line with Repower’s strategy announced last year to realign its business model, which includes a stronger focus on the Swiss (including trading and origination in Germany) and Italian markets.
About MET Group
MET Group is one of the most active companies in the European energy sector. Headquartered in Switzerland, MET is engaged in the European natural gas, power and oil markets. MET is present in 10 countries through subsidiaries, in 25 national gas markets and 21 international trading hubs, with a significant end-consumer presence in the CEE region.
Repower AG is an international energy group headquartered in Poschiavo, Switzerland. Key markets are Switzerland (including trading and origination business in Germany) and Italy. The group operates along the entire value chain, generating electricity, trading energy, marketing electricity and gas to consumers, and maintaining a distribution grid. In Switzerland Repower has focused its business on energy trading, power plant management, sales activities and services for energy utilities. In Italy, Repower supplies small and medium-sized enterprises as well as public institutions with electricity and gas, delivering them with tailor-made products.