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MET Group closes acquisition of RWE Energie in Romania

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MET Group closes acquisition of RWE Energie in Romania

MET Holding AG completed its acquisition of RWE Energie SRL on Sept. 3, shortly after receiving regulatory approval in Romania.

The deal makes integrated European energy company, MET Group, among the top three suppliers in Romania's nonresidential electricity market, according to a news release by the company.

The Competition Council of Romania has approved the transaction Sept. 3 as well, saying in a news release, that the acquisition "does not raise significant obstacles for the effective competition on the Romanian market or on a part of it, especially by creating or consolidating a dominant position."

MET Holding operates in the Romanian electric and gas market through its local subsidiary MET Romania Energy SA. MET Holding is owned by MET Group which does business in gas, electricity, oil, LPG and electricity production. RWE Energie is owned by German power producer Innogy SE.

Both RWE Energie and MET Holding submitted the application in June.