Hidroelectrica initiated the procedures for the acquisition of assets of Enel, CEZ and UCM Resita

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Hidroelectrica started the procedures for the potential acquisitions of assets of CEZ and Enel from Romania, said the general manager of the company, Bogdan Badea, thus confirming the information written by the press. In addition, the energy producer is preparing to take over some assets of UCM Resita.

“Yes, we started the procedures for the acquisition of participations in CEZ and Enel, we initiated the steps, meaning the selection of legal advice, for M&A, we are interested in some assets, it is part of our strategy, transposed in the management plan, we start the due dilligence process,” said Bogdan Badea, the president of the company’s Directorate, quoted by e-nergia.ro.

Badea also stated that Hidroelectrica is also interested in some assets of UCM Resita, a company that is in extended insolvency and which has as main customer the hydro-energy producer. “We want certain sections of the UCMR, for maintenance, we have done a technical due diligence, to see what we need, now we start the selection of consultants. We’ll take the assets we need,” said Badea.

UCM Resita, a company that has been insolvent for about eight years, is an important partner of Hidroelectrica, given that many of the company’s hydro-aggregates are being repaired and modernized at the plant in Resita. After the acquisition, the UCMR units will be merged with Hidroserv, and Hidroelectrica will consolidate its maintenance segment.

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