METLEN has announced the signing of a non-binding agreement to pursue the acquisition of a 75% stake in Most Energy JSC’s energy trading business.
Notably, Most Energy’s renewable assets and battery energy storage system (BESS) projects will not be included in this acquisition.
Based in Sofia, Bulgaria, Most Energy is an energy trading company serving 897 industrial and commercial clients (B2B) and acting as an Aggregator for 143 customers.
This acquisition aims to provide METLEN with a robust operational platform in Bulgaria, enabling the expansion of its existing customer base and increasing its physical footprint in the country.
The agreement aligns with METLEN’s broader strategic plan to grow its portfolio of high-consuming industrial and commercial clients in Southeast Europe. The company will deliver energy supply solutions complemented by integrated risk mitigation tools, ensuring predictability, competitiveness, and flexibility for its customers.
Additionally, through Most Energy’s role as an Aggregator, METLEN will bolster its regional presence by managing both third-party and proprietary renewable energy source (RES) unit portfolios.
With a longstanding presence in Southeast Europe’s energy sector, METLEN has established strategic partnerships and invested in innovative energy solutions, developing a diverse portfolio that includes trading and supplying natural gas and electricity, energy management, and the development of RES and energy storage projects.
The transaction is valued at 6.8 million euros, excluding working capital and other adjustments. Finalizing the transaction is contingent on due diligence, agreement on the business plan, and requisite approvals from the relevant authorities.
