The French energy group Engie will take full control over the Wirom Gas distribution firm in Bucharest that is currently controlled by Gazprom (51.1%) with the rest of 48.8% shares held by Engie.

The deal is being analysed by the Competition Council, according to local Profit.ro.

In 2017, Wirom reported a turnover of RON 57.6 million (EUR 12.4 million), the highest in the last ten years. But the company dived into losses area for the first time in ten years as well, with RON 4.7 million (EUR 1 million) losses. The company, operating on the market since 1994, provides natural gas for the cities of Turnu Măgurele, Alexandria, Olteniţa, Giurgiu and Corabia.

Engie Romania, formerly GDF Suez Romania, is controlled by the French group with the same name and recorded a net profit of RON 337 million (EUR 72.4 million) in 2017 and a turnover of about RON 5.07 billion (EUR 1.09 bln). The gas distribution business, run through Distrigaz Sud Networks, had a turnover of RON 1.24 billion (EUR 270 million).

In addition to supplying and distributing gas, Engie is also active on the Romanian market in the production, supply and trading of electricity, it holds two wind farms and is active in the sector of engineering.

editor@romania-insider.com

(photo source: Pixabay.com)