innogy takes over a further gas utility in Croatia
Montcogim-Plinara has 11,000 customers in the Zagreb region
innogy becomes third-largest gas utility in country
innogy SE has taken over a further gas utility in Croatia, thus expanding its business in the innogy SEE (Slovakia, Slovenia, Croatia) region. After purchasing a majority package in the gas utility of the city of Koprivnica at the beginning of 2017, innogy took over grid and retail company Montcogim-Plinara, headquartered in Sveta Nedelja. The purchase price was kept confidential.
In 2016, Montcogim-Plinara’s turnover was around EUR11.4 million and it had 25 employees. The company is active in six cities in the region of Zagreb, owns a 370-km-long gas network and supplies 11,000 customers. The company’s gas network is considered the most modern in Croatia. “With the takeover of Montcogim-Plinara we are pursuing our aim of expanding our position in Croatia and in particular driving forward the Croatian gas market. In the coming two years, we want to increase our share of the Croatian market to ten percent”, says Hildegard Müller, CEO Grid and Infrastructure at innogy SE. Karl Kraus, CEO of innogy SEE: “After purchasing 75 percent of the gas utility in Koprivnica a year ago, the takeover of Montcogim-Plinara is now the second privatisation on the gas market in Croatia. The company has high growth potential.”
After the takeover of Montcogim-Plinara, innogy has around 35,000 customers on the Croatian gas market and is now the third-largest utility. innogy has been active on the Kroatian gas market since 2013 and is the second largest provider in the country, with currently around 120,000 customers.