Ion Grecu, the Constanta-based businessman who runs the Elcomexgroup, will collect over 15.5 million euros from Swiss energy groupRepower, after selling an 80% stake in Elcomex EN, one of theleading energy traders on the Romanian market.
Grecu is described by the Constanta press as being one of therichest people on the Romanian seacoast, with significant politicalsupport, being mainly known for contracts sealed with the Cernavodanuclear plant.
On the other hand, Grecu recently said that Elcomex EN energytrader never had any direct energy acquisition contracts, insteadgetting its entire supply from energy exchange and from imports,and that it currently has contracts with over 400 clients.
The transaction whereby Grecu relinquished an 80% stake inElcomex EN was announced in June, but its value was only publishedin a document that recently appeared in the Official Gazette.
Elcomex EN received the licence for energy supply in 2004,having in the meantime leapt spectacularly from sales of just over20,000 euros to an around 70 million-euro turnover.
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