French Veolia looks to take over RADET, says mayor Firea

The mayor of Bucharest, Gabriela Firea, claims that French group Veolia is looking to take over district heating supplier RADET, which is currently in insolvency.

“The greatest threat comes from representatives of private companies that want to do business in this field at all costs. We have clear signals that we should reduce investments and the organization at RADET because there are companies interested in buying it on 2 lei. There is information coming according to which Veolia wants to take over RADET because they made acquisitions in the country and saw that there is not real competition,” said Firea.

Veolia manages the water supply and waste water treatment of Bucharest through its subsidiary Apa Nova Bucharest, in which the Bucharest City Hall is also a shareholder.

Veolia provides energy services for over 90,000 households in Ploiesti, Iasi and Otopeni, according to the company’s website.

RADET Bucharest has a 43 percent market share and supplies thermal energy to around 565,000 apartments, accounting for 1.25 million end-consumers.

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