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

Rezvan Popescu: We do not rule out any possibility

Romgaz is studying the market for acquiring assets in the field of gas and electricity supply, Rezvan Popescu, the company’s CEO, told HotNews.ro. He also said that due diligence will be conducted. (This involves a thorough analysis of the financial statements, activities and risks that the proposed companies will present).

Answering the question about the possibility of purchasing supplies from E.ON, Popescu said that “no possibility is excluded.” Popescu claims that there is currently no agreement with E.On.

There is no doubt that Romgaz wants to gain as much share as possible in the supply area and significantly increase its customer portfolio, and the way to achieve this goal is currently being analyzed. E.On’s market share already exceeds 10%, being one of the most important suppliers of both natural gas and electricity.

Reference for the purchase of legal services

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

According to the procurement notice, the legal aid will also consider “a legal analysis of the target company that operates in the field of electricity and natural gas supply.”

Also, legal assistance will help Romgaz SA to make a final decision regarding the selected procurement object, as well as help in negotiations and closing the deal.

In addition, he will assist, advise and represent SNGN Romgaz SA at all stages related to the implementation of the transaction to get the project up and running.