EMMA CAPITAL HOLDS 93% SHARES IN MOLDOVAN ENERGY COMPANIES

The Czech company EMMA Capital Group bought 24% shares in energy companies Premier Energy and Premier Energy Distribution in Moldova, raising its share in them to 93%.

According to the company website, the package is bought from the London company Duet Private Equity and the company Moldova Invest, which is controlled by Danish investor August Lund.

The EMMA Capital came to the Moldovan market in July 2019, after buying 69% of both companies (back then called RED Union Fenosa and Gas Natural Fenosa) from the Spanish energy group Naturgy. At that time the buying was the largest-ever Czech investment in Moldova.

"We are glad to represent Czechia as investor on the Moldovan market and we are sure we will manage to administrate both companies in a way that this to be profitable not only for us, as investors, but first of all for our clients", EMMA Capital Director for Investments Pavel Gorak said.

In December 2019, the RED Union Fenosa and the Gas Natural Fenosa were registered under the brand "Premier Energy", which covers the EMMA Capital Group's investments into energy sector of the neighboring Romania.

"Our experience in Romania is crucial. In 2014 we have started there with limited investments, while today we are one of the main players on this country's energy market. I am sure that we can use this experience, working with the largest energy companies in Moldova", Gorak said.

The Premier Energy Group is working in Romania and Moldova in the field of natural gas and electricity distribution. It has 950 thousand clients. According to preliminary unaudited results, the company's EBITDA margin reached almost 48 million euros in 2019, while the received profit - 27 million euros.