The transaction involves purchasing 100% stakes in Felix Distribution Holdings and Evryo Power, both Romanian entities.

DEO operates Romania's third largest electricity distribution network, spanning approximately 80,000 kilometres and serving around 1.5 million customers in the southwestern region. Evryo Power supports operations as a service provider, facilitating separation processes and contributing to the distribution platform's functioning.

"This is an important milestone in the development of Premier Energy and a key part of the strategy to become a regional leader in the energy transition," said the company in a statement The acquisition addresses the current gap in electricity distribution within the company's principal market, Romania, and strengthens the vertically integrated business model.

The transaction will enable Premier Energy to consolidate its position in Romania by bringing together electricity generation, distribution and supply, alongside natural gas distribution and supply within a single integrated platform. The transaction value corresponds broadly to the book value of the business.

Premier Energy is in discussions with a financial institution regarding a potential bond offering, which is expected to include an initial bridge-to-bond financing package. The company intends to submit the transaction for shareholder approval at the Annual General Meeting scheduled for 10 June 2026, with completion expected in H2 2026, subject to regulatory clearances.