Bratislava, 15 November 2011 – The Slovak Antimonopoly Office has confirmed the takeover of the Slovak heating group Comeron Group by the French energy holding Cofely, which is part of the GDF SUEZ group. Cofely is thus continuing the further growth it announced earlier this year.
The Antitrust Authority confirmed the agreement of both parties from March this year. When assessing the merger, it took into account in particular the fact that the world’s largest energy concern GDF SUEZ is already active in the Slovak energy sector. However, after an investigation, the Authority assessed that the takeover of Comeron “will not create or strengthen GDF SUEZ’s dominant position in the field of heat production and distribution, which would be an obstacle to effective competition”. The Authority’s decision was welcomed by both parties. “It is in line with our long-term objective to grow and increase our market share in the Slovak energy sector,” says Peter Strýček, Chairman and CEO of Cofely, a.s., Bratislava. With the acquisition, Cofely will increase its annual sales volume by more than two thirds. It will also strengthen its position as one of the largest heat producers in the country. “However, I consider the most important thing to be the human and development potential that comes to us with the 250 employees of the Comeron Group,” he stresses. Comeron’s management will remain with the company and will strengthen the senior management of the Cofely Group in Slovakia. “It is important for us that this is a company for which energy is the core business,” explains Jozef Smolka, CEO of the Comeron Group, explaining the choice of partner. There were several interested parties. “However, we were looking for a guarantee of further development, especially in the area of technological innovation,” emphasises J. Smolka. The Comeron Group consists of six companies that operate heat management in Senica, Skalica, Stupava, Malacky, Gbelo and the Bratislava districts of Staré Mesto and Vrakuňa. It has been operating on the market for twenty years and supplies heat to about 30 thousand households. It is one of the technological leaders in the domestic energy sector and one of the first to invest in the production of heat from renewable sources. Last year, the group recorded revenues of EUR 36 million.