Romania's Romgaz completes Azomureş takeover and expects commissioning of Iernut power plant in early 2027

Romgaz (stock symbol SNG) is set to finalise on September 1 the transaction through which it takes over the assets necessary for Azomureş’s production activity, as well as the contracts and employees necessary for the transferred activity, according to a report submitted to the Bucharest Stock Exchange on August 31.

The transaction, for which Romgaz and Azomureş signed the business transfer agreement on May 29, was conditional on the approval of Romgaz shareholders, the unconditional clearance from the Competition Council and the approval of the Foreign Direct Investment Review Commission. The last condition was met on August 28, so, according to the agreement, the transaction completion date is September 1, Ziarul Financiar reported.