Ion Grecu, the Constanta-based businessman who runs the Elcomex group, will collect over 15.5 million euros from Swiss energy group Repower, after selling an 80% stake in Elcomex EN, one of the leading energy traders on the Romanian market.
Grecu is described by the Constanta press as being one of the richest people on the Romanian seacoast, with significant political support, being mainly known for contracts sealed with the Cernavoda nuclear plant.
On the other hand, Grecu recently said that Elcomex EN energy trader never had any direct energy acquisition contracts, instead getting its entire supply from energy exchange and from imports, and that it currently has contracts with over 400 clients.
The transaction whereby Grecu relinquished an 80% stake in Elcomex EN was announced in June, but its value was only published in a document that recently appeared in the Official Gazette.
Elcomex EN received the licence for energy supply in 2004, having in the meantime leapt spectacularly from sales of just over 20,000 euros to an around 70 million-euro turnover.
Ion Grecu, the Constanta-based businessman who runs the Elcomex group, will collect over 15.5 million euros from Swiss energy group Repower, after selling an 80% stake in Elcomex EN, one of the leading energy traders on the Romanian market.
Grecu is described by the Constanta press as being one of the richest people on the Romanian seacoast, with significant political support, being mainly known for contracts sealed with the Cernavoda nuclear plant.
On the other hand, Grecu recently said that Elcomex EN energy trader never had any direct energy acquisition contracts, instead getting its entire supply from energy exchange and from imports, and that it currently has contracts with over 400 clients.
The transaction whereby Grecu relinquished an 80% stake in Elcomex EN was an
