OMV Petrom S.A. (BVB:SNP) agreed to acquire Renovatio Asset Management Srl from Renovatio Group Limited on January 2, 2024. With the acquisition of 100% shares in Renovatio Asset Management, OMV Petrom will become the largest player in e-mobility in Romania. Furthermore, OMV Petrom agreed to acquire 50% stake in Electrocentrale Borzesti from Renovatio Group. Through this newly formed partnership, OMV Petrom together with Renovatio plan to invest by 2027 approximately ?1.3 billion in Romania. OMV Petrom?s contribution for the acquisition and construction of these projects is estimated to be up to ?350 million. The closing of the transaction is expected to take place in the first half of 2024, after fulfilment of certain conditions.

OMV Petrom S.A. (BVB:SNP) completed the acquisition of Renovatio Asset Management Srl from Renovatio Group Limited on May 31, 2024. The transaction was approved by the Competition Council and the Commission for Foreign Direct Investment Screening. Monica Cojocaru, Georgiana Badescu of Schönherr Rechtsanwälte Gmbh acted as legal advisor to Renovatio Group Limited. Upto the signing of the transaction Mihaela Aliman Law Office as co-counsels has advised Renovatio on legal matter. Cornel Popa, Silvana Ivan and Alexandra Peres of Tuca Zbarcea & Asociatii acted as legal advisor to OMV Petrom S.A. (BVB:SNP).