One decisive step for Europe Energy Group
EARLY ACQUISITION OF THE BUSINESS OWNED BY GASCOMSRL IN LIQUIDATION
Thursday June 8, 2017 will be remembered as a milestone for the history of Europe Energy, the international group that operates in the energy trading and provides natural gas and electricity to end customers in Italy and in several international markets.
Europe Energy has successfully concluded the process of acquisition of the business previously owned by Gascom Srl in liquidation. A process that started on October 18, 2014 with the signature of the rental and an irrevocable offer to purchase of the business. The deadline to complete the acquisition was set for February 29, 2019.
“The decision to bring forward the acquisition by more than two years” Matteo Ballarin, CEO of Europe Energy, declares “comes from the confidence we have in the work we are doing in order to make the end customers selling activities shine. The end customers market is, in fact, the core activity of the acquired business. Our confidence in this business has given us the strength to accelerate activities in order to immediately finalize the takeover”.
Eugenio Colla, managing director and CFO of the Group, explains “Accessing the end clients market has not been painless for us. With the renting of Gascom srl business, our staff quadruplicated and our client base rose from few hundreds to more than 30.000 customers. Moreover, issues on credit risk and the quality of customers acquisition had been brought from the business rental, so we had to maximize our managerial efforts towards reorganization and financial consolidation. After one year of hard work, we can affirm that the turnaround activity has been deep, the old procedures have been reviewed and have been made more incisive; the old selling procedures and customer acquisition activities have been reset and refunded on healthy and solid basis on which we will now build upon”.
Today, more than ever, Europe Energy Group – following its ninth consecutive year yielding profit – is setting its sights high and aims to strengthen its presence in the domestic and international markets, increasingly looking to end customers, both households and SMEs.
The company’s mission is confirmed to be “to put people first, to be closer to our customers” by offering them a service that represents the highest standards of the sector.
The Group is operating already its retail activities in Italy, Slovenia, Serbia, Croatia, Bosnia and Montenegro and, within the end of the year, also in Romania and Albania. The target is to provide to all the multinational companies operating in the aforementioned countries a single electricity and gas supplier.
Studio Associato Breno Sottini from Brescia and Studio Legale Pezzi e Associati from Bologna assisted Europe Energy Group for both the acquisition and the shape of the funding provided by Unicredit S.p.A..