Electrica approves the merger of the three distribution companies within the group

Electrica informs that on May 27, Electrica’s Board of Directors mandated Electrica’s representative in the General Meetings of Shareholders (GMS) of the three distribution companies within Electrica Group to vote for the approval in principal of the initiation and participation at the merger through absorption between Societatea de Distributie a Energiei Electrice Transilvania Nord SA, Societatea de Distributie a Energiei Electrice Transilvania Sud SA and Societatea de Distributie a Energiei Electrice Muntenia Nord SA.

The absorbing company will be Societatea de Distributie a Energiei Electrice Transilvania Nord SA. This initiative is one of the main pillars of Electrica Group’s Strategy for the period 2019-2023.

Electrica says the merger through absorbtion of the three companies within the Group will take place after the approval of the absorbed companies’ dissolution, in compliance with the necessary corporate approvals.