PPC Group decided the simplification of the organizational structure of its companies in Romania, aiming at a more efficient management, greater flexibility and faster service delivery to customers.
Specifically, in the supply business, the two different companies are merging into one, which will be called PPC Energie. The process is scheduled to take place later this year, and it is expected to be completed by December 31, 2024.
Accordingly, in the activity of distribution, the three different companies are merged into one, which will be called Rețele Electrice Romania. The process is expected to take place over the coming months and be completed by November 30, 2024.
After the completion of the merger, PPC Energie, as the only PPC Group company in Romania for power supply, will be able to provide integrated solutions to all its customers and a unified service experience.
At the same time, as it will now serve approximately 3 million customers in a unified manner, PPC Energie will be able to achieve a reduction in the average cost of energy supply and manage more effectively any volatility in the energy market.
Accordingly, Rețele Electrice Romania, the Group’s sole distribution company in Romania after the completion of the merger, will serve approximately 3.1 million customers, be able to operate more efficiently, have greater investment flexibility, and will accelerate the development of networks as it will have improved access to funding capital.
The merger will not affect the employees of the companies, as the employees of the absorbed companies will move to the two companies PPC Energie and Rețele Electrice Romania.
At the PPC Group level, the simplification of the corporate structure of the activities in Romania contributes to their better monitoring and more efficient cooperation of companies, creating greater value for PPC shareholders.
The mergers do not need the approval of competition authorities, as there will be no change of control in the companies involved.
