The 700 million euros deal would add Romania’s third-largest electricity distribution network to the group’s portfolio, strengthening its integrated energy platform.
Premier Energy is preparing a major expansion of its Romanian operations through the planned acquisition of Distributie Energie Oltenia (DEO) and Evryo Power, in a transaction valued at around 700 million euros. When completed, the deal would significantly strengthen the group’s position in Romania by adding electricity distribution to a business already active in gas distribution and supply, electricity supply, and renewable generation.
The company announced that it has entered into an agreement to acquire a 100% stake in Felix Distribution Holdings S.R.L., the parent company of DEO, as well as a 100% stake in Evryo Power S.A., from funds managed by Macquarie Asset Management.
At the core of the transaction is DEO, a regulated electricity distribution operator in southwestern Romania. The company manages a network of around 80,000 kilometres and serves approximately 1.5 million customers, making it the third-largest electricity distribution network in Romania. Evryo Power supports the business as a service provider, contributing to operational efficiency and separation-related processes.
In financing terms, Premier Energy said it is in advanced discussions with a global financial institution regarding a potential bond offering. The envisaged structure includes an initial bridge-to-bond financing package, followed by a medium-term plan to refinance all or part of the acquisition through a bond issuance.
The transaction is expected to be submitted for shareholder approval, most likely at the company’s Annual General Meeting scheduled for 10 June 2026. Completion remains subject to customary regulatory clearances and other conditions specific to a deal of this type. Premier Energy expects financial closing to take place in the second half of 2026.
The latest move comes after Premier Energy already expanded its presence in Romania’s electricity market through the acquisition of CEZ Vanzare, the main electricity supplier in Southwest Romania and also a gas supplier, with a combined portfolio of nearly 1.2 million customers. Following that transaction, the company was renamed Premier Energy Furnizare.
That acquisition already broadened the group’s profile across natural gas supply and distribution, electricity production, supply and distribution, and renewable power generation from wind and solar. Premier Energy has also set a target of reaching 1.4-1.6 GW of renewable capacity over the next three years.
The assets Premier Energy is now seeking to acquire were previously part of the Romanian portfolio of Czech utility group CEZ, which entered the market through the takeover of Electrica Oltenia in 2005. In March 2021, CEZ sold several Romanian companies – including CEZ Vanzare, Distributie Energie Oltenia, Ovidiu Development, Tomis Team, MW Team Invest, TMK Hydroenergy Power and CEZ Romania – to Macquarie Asset Management. In December 2023, Macquarie and Premier Energy reached an agreement for the sale of CEZ Vanzare, while in April 2024 the former CEZ operations in Romania were rebranded as EVRYO.