HEP Plin signed a share purchase agreement for the business shares in the company Plin Vtc with the representatives of its co-owners – the City of Virovitica and the municipalities: Lukač, Špišić Bukovica, Gradina and Suhopolje. Thus, HEP Plin acquired ownership of 379 kilometres of gas distribution network in Virovitica – Podravina County and took over the supply of 7,377 new customers.
The share purchase agreement, with the total value of HRK 19.65 mn was signed by Damir Pećušak, the director of HEP Plin and Ivica Kirin, the mayor of the City of Virovitica, Đuro Bukvić, the head of municipality Lukač, Hrvoje Miler, the head of municipality Špišić Bukovica, Marko Ajček, the head of municipality Gradina and Siniša Horvat, the head of municipality Suhopolje.
“Taking over the company Plin Vtc is a part of HEP Group’s strategy, which is directed towards further development of gas business and active participation in the process of consolidation at the Croatian gas market. With this acquisition HEP Plin confirmed its position as one of the leading gas distributors and suppliers in Croatia, with experience and business tradition of almost half a century. That fact, as well as the synergy of gas business on the level of HEP Group, which stands behind HEP Plin, guarantee a safe and stable gas supply to the citizens and companies of this part of Virovitica – Podravina County”, said Frane Barbarić, the President of the Management Board of Hrvatska elektroprivreda on that occasion.
The distribution network of Plin Vtc in Virovitica – Podravina County shall be joined to the existing network of HEP Plin, with the total length of 2,700 kilometres, which is located in the area of Osijek – Baranja County, Požega – Slavonia County and a part of Virovitica – Podravina County. Along with the existing 75,000 customers, HEP Plin shall also take over the guarantee of further safe supply for more than seven thousand new buyers of natural gas in the area of the City of Virovitica and municipalities: Lukač, Špišić Bukovica, Gradina and Suhopolje. The takeover of Plin Vtc is a continuation of business activities of HEP Plin’s expansion, after it took over the distribution network of municipality Feričanci in 2018.
Through HEP Plin, Hrvatska elektroprivreda shall continue with the activities of taking over gas network owned by local authorities as well as through acquisitions of other companies dealing with gas distribution and supply. Apart from that, long-term plans of HEP Plin are directed towards the construction of additional gas network and the introduction of new technologies, such as remote reading and “smart” gas meters, which ensures the foundations for further increase in the number of customers, the amount of distributed gas and the increase of service quality.
