Premier Energy to acquire Evryo Group for €700 million
Distributie Energie Oltenia S.A. operates a regulated electricity distribution network in the southwestern region of Romania. Evryo Power S.A. supports the operations as a service provider.
Premier Energy, a vertically integrated energy company in Southeastern Europe and a listed company on the Bucharest Stock Exchange, has agreed to acquire Evryo Group from funds managed by Macquarie Asset Management for about EUR 700 million (about USD $825 million), the companies said.
The transaction is being implemented through the acquisition of 100% of Felix Distribution Holdings S.R.L., the parent company of Distributie Energie Oltenia S.A., as well as 100% of Evryo Power S.A., according to a media release.
“By adding electricity distribution to our operations in Romania, we are adding a key missing component of our integrated energy platform in our core market. This allows us to better align electricity generation, distribution and supply, strengthening our ability to operate efficiently and capture value across the entire energy chain,” José Garza, CEO of Premier Energy Group, said. “At the same time, we are pleased to continue our relationship with Macquarie Asset Management following the successful acquisition of CEZ Vânzare, now Premier Energy Furnizare, back in 2024.”
Distributie Energie Oltenia S.A. operates a regulated electricity distribution network in the southwestern region of Romania, spanning approximately 80,000 kilometers and serving around 1.5 million customers.
Evryo Power S.A. supports the operations as a service provider, facilitating separation processes and activities through operational, commercial and administrative functions, contributing to the efficient functioning of the distribution platform.
“This transaction is important both from an operational and financial perspective. By adding a regulated electricity distribution segment to our activities in Romania, we will enhance the stability and predictability of our cash flows while supporting the Group’s financial profile,” Peter Stohr, CFO of Premier Energy Group, said. “The acquisition has been agreed at approximately the book value of the business, representing a compelling valuation, and underlines our ability to pursue and complete strategic transactions of scale that will continue to create value to all stakeholders.”