HEP Plin Took Over Gradska Plinar Krapina

Source Press Release
Company HEP Plin d.o.o. 
Tags Corporate Deals, Deals, Pipelines/ tankers/ distribution
Date March 31, 2021

HEP Plin signed an Agreement with the company Krakom doo on the purchase and sale of business shares in the company Gradska plinara Krapina doo, thus acquiring ownership of 457 kilometers of gas distribution network in Krapina-Zagorje County. 

In the presence of the President of the Management Board of HEP Frane Barbarić and the Mayor of the City of Krapina Zoran Gregurović, the Agreement on the purchase and sale of the business share was signed by Damir Pećušak, Director of HEP Plina and Katarina Posilović, Director of Krakom doo Zagorje counties: the City of Krapina and the municipalities of Đurmanec, Jesenje, Petrovsko and Radoboj. With the purchase of Gradska plinara Krapina, HEP Plin confirmed its position as the largest distributor in Croatia in terms of the length of the gas network in its ownership. Together with today's acquisition, HEP Plin will manage a total of 4,419 kilometers of gas network in Osijek-Baranja, Požega-Slavonia, Virovitica-Podravina, Vukovar-Srijem and Krapina-Zagorje counties, through which more than 100,000 users are supplied.

"ONThis acquisition is a confirmation of the active expansion policy on the Croatian gas market advocated and implemented by the Management Board of Hrvatska elektroprivreda. For the first time, HEP Plin is leaving the regional framework of eastern Croatia, where it operates a unique gas network in four counties. This is a new challenge for the business of HEP Plina, a company with almost half a century of experience and business tradition. I am convinced that they will successfully respond to this challenge, to the satisfaction of all users of the gas network in the part of Krapina County where the City Gasworks Krapina operates. Thanks to the synergy of gas operations at the level of the HEP Group and the strong financial position of Hrvatska elektroprivreda, we can guarantee all gas consumers, citizens and companies in this area a safe, stable and quality gas distribution service.", Said the President of the Management Board of HEP Frane Barbarić.

Gradska plinara Krapina operates in the Krapina-Zagorje County, has 5,500 users, of which 5,000 from the household category, and manages 457 kilometers of distribution network through which it delivers an average of 70 GWh of gas per year. After signing the sales contract, Gradska plinara Krapina will continue to operate as an independent economic entity until the merger of HEP Plin, but within the HEP Group, which creates preconditions for customers to provide even safer and more favorable gas supply. The takeover of Gradska plinara Krapina is part of the HEP Group's strategy, which is aimed at further development of the gas business and active participation in the consolidation process on the Croatian gas market. Thus, in 2018, the distribution network of the Municipality of Feričanci was taken over, in 2019 the company for distribution and supply of gas Plin Vtc from Virovitica,

HEP Plina's long-term plans are focused on building an additional gas network and introducing new technologies, such as remote reading and "smart" gas meters, which provide the basis for strengthening competitiveness, further increasing the number of customers, distributed gas and increasing service quality.

Source: EvaluateEnergy® ©2022 EvaluateEnergy Ltd