CEZ Vânzare becomes Premier Energy Supply after the acquisition by Premier Energy

Premier Energy, one of the leading providers and distributors of natural gas in Romania, announces the completion of the acquisition of CEZ Vânzare, resulting in the regional customer portfolio of the entire Premier Energy group rising to 2.4 million residential and non-residential customers. With one of the fastest growth rates in the Central and South-Eastern Europe region, the Premier Energy group is represented by three business verticals – natural gas supply and distribution, production, supply and distribution of electricity, and renewable energy production (wind and solar). With the completion of the acquisition, CEZ Vânzare receives a new identity and becomes Premier Energy Supply. Premier Energy acquired CEZ Vânzare at the end of 2023 from the Australian investment fund, Macquarie Asset Management, marking the most significant transaction of the year between entities active in the Romanian energy market.

The completion of the transaction represents a milestone for the local and regional development strategy of the Premier Energy group, a step that brings the group closer to its announced major objective of becoming a regional energy platform. Since the end of 2022, Premier Energy has also become a significant player in the renewable energy sector through acquisitions. Thus, the group is preparing for the transition to renewable energy, with the target set for Romania being between 1.4 GW and 1.6 GW over the next three years.

Jose Garza, CEO of the Premier Energy Group – “I want to thank everyone for their involvement in successfully completing this transaction. We move forward with a strong team. After ten years of experience in distribution and supply in the natural gas market, Premier Energy has risen to the top of the players in the local market and is creating the premises step by step to become a market leader. We are one of the fastest-growing players in the past decade in the Central and South-Eastern Europe region. Through strategic acquisitions, such as that of CEZ Vânzare, we are consolidating synergies within the group around the three business verticals.”

CEZ Vânzare’s strategy remains focused on providing electricity and natural gas and meeting the needs of our customers. The transaction and change of ownership have no impact on the contractual provisions between the company and its customers, employees, suppliers, or partners. Additionally, the CEZ Vânzare team remains unchanged in the upcoming period, and for any information about the company, contact details, and other relevant information, customers can consult the website www.premierenergy.info, the Premier Energy MyInfo app, or the Premier Energy Info Line 0251 929.

Cornelia Szabo, CEO of CEZ Vânzare, now of Premier Energy Supply – “I am glad that we have joined an equally ambitious family with regional development plans. CEZ Vânzare’s nearly two decades of experience in the local market, combined with the innovation and growth desire of Premier Energy, take us all into a new stage of development. We will continue to be the same reliable partner of the community where we operate, with standards subordinated to a strategy focused on the needs of our customers who have been with us for years, and for this, we are grateful.”

Premier Energy PLC was assisted in the due diligence process and in negotiating the acquisition documentation by the internal team and lawyers from Bohâlțeanu & Asociații. Established in 2007, Premier Energy operates as a distributor and supplier in the natural gas market in Romania, being the third-largest player in the field.

At the same time, Premier Energy holds green/renewable energy projects in Romania, with a capacity of over 1,000 MW, projects that are owned, managed, or under development, and are equally divided between wind and photovoltaic projects. With 19 years of experience in the Romanian market, CEZ Vânzare is the main electricity supplier in south-western Romania, as well as a gas supplier, with a total portfolio of almost 1.2 million customers.