Premier Energy announces that it has entered into an agreement to acquire Distributie Energie Oltenia S.A (DEO) from funds managed by Macquarie Asset Management, through the acquisition of a 100% stake in Felix Distribution Holdings S.R.L., a holding company and the parent company of DEO, as well as a 100% stake in Evryo Power S.A. All 3 entities are incorporated in Romania.
DEO operates a regulated electricity distribution network in the southwestern region of Romania, spanning approximately 80,000 kilometers and serving approximately 1.5 million customers. The network represents a critical component of the national energy infrastructure and is the third largest electricity distribution network in Romania. Evryo Power supports the operations as a service provider, facilitating separation processes and contributing to the efficient functioning of the distribution platform.
This is an important milestone in the development of Premier Energy and a key part of the strategy to become a regional leader in the energy transition. This acquisition represents a transformative step for the Company, addressing the current gap in electricity distribution within the Company’s principal market, Romania, and further strengthening the vertically integrated business model. The transaction will enable Premier Energy to consolidate its position in Romania by bringing together electricity generation, distribution and supply, alongside natural gas distribution and supply within a single integrated platform.
The transaction value is approximately €700 million, corresponding broadly to the book value of the business. In terms of financing, the Company is in advanced discussions with a global financial institution regarding a potential bond offering, which is expected to include an initial bridge-to-bond financing package, with a medium-term plan to finance all or part of the acquisition through a bond issuance.
The Group intends to submit the transaction for approval to its shareholders, most likely at the upcoming Annual General Meeting of Shareholders scheduled for 10 June 2026. The completion of the transaction remains subject to the receipt of customary regulatory clearances and the fulfilment of other conditions precedent specific to transactions of this nature. The Company expects the transaction to reach financial close in the second half of 2026.