The European Commission no longer needs to approve the acquisition of E.ON Energie by MVM, considering that the analysis by Romanian authorities is sufficient, says Bogdan Chirițoiu, President of the Competition Council. He believes that this case will be brought before the Supreme Council of National Defense (CSAT) for a thorough review.
“The transaction has been notified and is currently under review by the institutions that are part of the Commission for the Examination of Foreign Direct Investments. I find it hard to believe that this transaction will be deemed unproblematic, given the public statements on the matter. Therefore, I believe it will most likely be discussed in the CSAT,” Chirițoiu said on Thursday at a press conference.
The transaction was notified at the end of last year. From the moment they have all the necessary documents and information, the institutions have 21 days to decide whether to issue a verdict or send the case to the CSAT. The CEISD includes representatives of the Prime Minister, the Competition Council, SGG and a number of nine ministries. On the other hand, Chirițoiu showed that officials of the European Commission, an institution that should also have approved this transaction, considered that the analysis of the internal authorities in Romania was sufficient.
Energy Minister Sebastian Burduja recently stated that the links between MVM and the Russian Federation are evident from open data. In addition, MVM has mentioned that it would like to sell the shares it will acquire to third parties outside the European Union, Burduja said.
In response, Karoly Matrai, MVM Director, stated for the portal Portfolio.hu that MVM has no intention of selling the companies it plans to acquire in Romania and, in addition, said that MVM will supply its customers in Romania with gas from local sources.
“Transporting Russian gas to Romania would entail enormous transit costs for us,” said Karoly Matrai. “Given that supplying what is produced locally is always the most cost-effective option, if we receive approval for this transaction, we intend to supply our Romanian subsidiary mainly with gas from local sources,” the MVM director also said.
Karoly Matrai added that MVM estimates that the necessary approvals could be obtained by the end of the second quarter and “the planned completion schedule in June-July can be met.”