OMV Petrom S.A. (BVB:SNP) agreed to acquire Renovatio Asset Management Srl from Renovatio Group Limited on January 2, 2024. With the acquisition of 100% shares in Renovatio Asset Management, OMV Petrom will become the largest player in e-mobility in Romania. Furthermore, OMV Petrom agreed to acquire 50% stake in Electrocentrale Borzesti from Renovatio Group.

Through this newly formed partnership, OMV Petrom together with Renovatio plan to invest by 2027 approximately ?1.3 billion in Romania. OMV Petrom?s contribution for the acquisition and construction of these projects is estimated to be up to ?350 million. The closing of the transaction is expected to take place in the first half of 2024, after fulfilment of certain conditions.