Electrica’s shareholders approved the merger of the group’s three distribution companies

The shareholders of Electrica SA approved the expression of a favorable vote of the company in the EGMS to the distribution operators, respectively to the EGMS of the energy service companies within the Group, regarding the proposed merger projects for the two business segments, according to a company statement.
“The Extraordinary General Meeting of Shareholders (EGMS) Electrica SA, legally and statutorily constituted at the first convocation, approved, with 100% of the votes held by the present shareholders, validly represented or who voted by mail, the proposals of the Board of Directors regarding the project of merger by absorption of the three electricity distribution operators within the Electrica Group (SDEE Transilvania Nord, SDEE Transilvania Sud, SDEE Muntenia Nord), as well as the proposals related to the merger project of the two energy service companies – Maintenance Branch and Servicii Energetice Electrica Serv SA (FISE) and Servicii Energetice Muntenia SA (SEM) ”, the release shows.

Starting with January 1, 2021, the new entity resulting in the distribution area will be called “Distributie Energie Electrică România SA” (DEER). In the process concerning the three distribution operators, the absorbing company will be SDEE Transilvania Nord, and in the case of the energy service companies the absorbing company will be the Maintenance and Energy Services Branch Electrica Serv SA (FISE).