April 5 (SeeNews) - Croatia's gas supply and distribution company HEP Plin said it has has acquired ownership of 379 km of gas distribution network in Virovitica – Podravina county by taking over local peer Plin Vtc for 19.7 million kuna ($3.0 million/2.6 million euro).
Under the share purchase agreement signed with the co-owners of Plin Vtc - the city of Virovitica and several municipalities, HEP Plin took over the supply of 7,377 new customers, the company, part of state-owned energy utility HEP Group, said in a statement earlier this week.
The transaction is a part of HEP Group’s strategy for further development of gas business and active participation in the consolidation of the Croatian gas market, HEP Plin said.
Plin Vtc's gas distribution network in northern Virovitica – Podravina county will be joined to HEP Plin's existing network, with a total length of 2,700 kilometres, located in the northeastern area of Osijek – Baranja county, western Pozega – Slavonia county and a part of the Virovitica – Podravina county.
Besides taking over gas networks, HEP Plin's long-term plans include construction of additional gas network and introduction of new technologies.
In 2018, HEP Plin took over the distribution network of municipality Fericanci in the Osijek-Baranja county.
(1 euro = 7.43030 kuna)
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