Hunedoara Energy Holding completes merger with Petrosani miner

Newsroom 10/07/2013 | 13:25

State-owned Hunedoara Energy Holding, a power generator, has absorbed the National Coal Company Petrosani, in a move to cut production costs.

The merger, which was closed on July 8, will see the Hunedoara Energy Holding control two thermal energy plants (Mintia, Paroseni) and four viable coal mines (Vulcan, Lonea, Livezeni and Lupeni).

Law firm Zamfirescu Racoti & Partners (ZRP) advised the state-owned generator on the deal.

“It wasn’t an easy task, as the operation required prior authorization from the Competition Council,” commented Anca Danilescu, senior associate at ZRP.

The Hunedoara Energy Holding held a 5.9 percent of the local electricity market in 2012, according to data from the energy regulator ANRE. The company is active both in the production and supply of electricity and thermal energy, and in coal mining.