Greece, Mytilineos has announced the acquisition of Watt&Volt

, SEE Energy News

Mytilineos has announced the acquisition of all outstanding shares of electricity/gas supplier Watt&Volt, as part of its strategic planning for the development of its activity in the retail market of electricity and natural gas supply in Greece and in the wider region.

The statement from the company said that, with the addition of Watt&Volt’s portfolio of 200,000 customers, its activity in the retail electricity and natural gas supply market (where through Protergia it already holds the first position among independent suppliers ) is amplified manifold. The single market share now reaches 10 %, with 550,000 customers and almost 100 stores, while at the same time the presence in electric mobility is significantly strengthened with 516 charging points throughout the territory.

The total price for the transaction amounts to 36 million euros, of which 20 million euros will be paid in cash and 16 million euros in Mytilineos shares. The shares in question will come from the Mytilineos’ own shares and will be available at a price of 17 euros per share.