Axpo Deutschland, Axpo Holding AG's German subsidiary, acquired gas supply contracts from Naturgy Energy Group SA subsidiary Gas Natural Europe. Terms of the transaction were not disclosed.
"The acquisition of this portfolio is an important step to expand our industrial customer sales for natural gas in the German market," Christoph Bilshausen, head of origination at Axpo Deutschland, said in a Sept. 26 company news release. "Furthermore, there is a possibility that these gas customers may also procure electricity from Axpo Deutschland in the future in order to use synergy potentials. We will continue to expand business activities at our locations in Leipzig and Düsseldorf."
The portfolio mainly involves gas supply contracts with large industrial corporations, according to the news release.
The deal secured approval from the German Federal Cartel Office.
