Croatia, HEP Plin acquires Pakrac Plin

, SEE Energy News

There has been another acquisition in the Croatian retail natural gas market.

In late March, the City Council of Pakrac adopted a decision on the sale of the 100 % capital of local natural gas distributor and supplier Pakrac Plin.

The offer of HEP Plin, gas subsidiary of state- owned power utility HEP, has been selected as the winning one, which continues the consolidation of Croatian retail natural gas market. HEP Plin previously acquired VTC Plin, PPD’s gas distribution subsidiary, Darkom and GPK.

HEP’s offer amounted to 400,000 euros with the obligation to continue gas activities on the  territory of Pakrac and Lipik and to keep all existing employees for at least five years.

The transaction is expected to be completed by the end of April.