GDF Suez Energy buys 57.2 percent stake in Congaz Constanta

Gas supplier GDF Suez Energy Romania has acquired the controlling stake in Congaz Constanta, active in the supply and distribution of gas, from E.On Ruhrgas International and OMV Petrom for an undisclosed sum.

The deal will see GDF Suez Energy increase its ownership in Congaz to 86 percent, pending approval of the Competition Council. Five local councils in the Constanta County hold minority stakes in the company.

“According to the provisions of the Competition Law, the proposed operation is an economic concentration exceeding the value thresholds included in the law, undergoing the assessment of the Competition Council,” said the anti-trust watchdog in a statement.

Ovidiu Posirca

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