September 26, 2017 9:37 AM ET

Electric Utilities

Company Overview of Societatea de Distributie a Energiei Electrice Transilvania Nord S.A.

Company Overview

Societatea de Distributie a Energiei Electrice Transilvania Nord S.A. offers electricity distribution services. It supplies electric power through branches in Cluj, Bihor, Maramures, Satu Mare, Salaj, and Bistrita Nasaud regions. The company’s services include electricity acquisition and management, tariff administration, and metering and billing. The company was incorporated in 2002 and is based in Cluj-Napoca, Romania. Societatea de Distributie a Energiei Electrice Transilvania Nord S.A. operates as a subsidiary of Societatea Energetica Electrica S.A.

Str. Ilie Macelaru, nr 28 A

Cluj-Napoca,  400380

Romania

Founded in 2002

Phone:

40 26 420 5069

Fax:

40 26 420 5998

Key Executives for Societatea de Distributie a Energiei Electrice Transilvania Nord S.A.

General Manager
Compensation as of Fiscal Year 2017.

Societatea de Distributie a Energiei Electrice Transilvania Nord S.A. Key Developments

Electrica Distributie Transilvania Nord SA Reports Unaudited Earnings Results for the Year 2015; Provides Earnings Guidance for the Year 2016

Electrica Distributie Transilvania Nord SA reported unaudited earnings results for the year 2015. For the year, the company reported total revenue of RON 720.2 million compared to RON 674.8 million a year ago. Operating profit was RON 186.6 million compared to RON 119.7 million a year ago. Net profit was RON 158.8 million compared to RON 95.3 million a year ago. The company provided earnings guidance for the year 2016. For the year, the company expects total revenue of RON 707.1 million, operating profit of RON 173.6 million and net profit of RON 145.6 million.

Electrica And FP Negotiations Cease

Negotiations between S.C. Electrica S.A. (BVB:EL) and SC Fondul Proprietatea SA (BVB:FP) regarding a potential acquisition of the participations held by it in the distribution and supply subsidiaries have been halted. According to the mandate given by the extraordinary general meeting of shareholders (EGMS) through resolution no. 3 of November 2015, the Board of Directors of Electrica was empowered to negotiate with Fondul Proprietatea (FP) in relation to a potential acquisition by Electrica of the minority participations held by FP in subsidiaries including, Electrica Muntenia Nord SA, Electrica Distributie Transilvania Nord SA, Electrica Transilvania Sud and SC Electrica Furnizare SA. Electrica informed its shareholders and investors that the negotiations between Electrica and FP were ceased, since no consensus was reached regarding the transactions' price. Electrica's last firm non-negotiable price, from March 24, 2016, was of RON 790 million in line with the firm offer received from FP in March 2015, and with the recent discussions. On March 28, 2016, FP sent Electrica a letter through which it declines this offer of RON 875 million.

Electrica Announces Plan To Purchase Entire Stake Held By Fondul Proprietatea In Four Subsidiaries

S.C. Electrica S.A. (LSE:ELSA) is planning to acquire stake some stake held by SC Fondul Proprietatea SA (BVB:FP), in four of its subsidiaries. Management Board of Electrica has mandated to start negotiations with Fondul Proprietatea on behalf of Electrica to acquire the entire stake held by the latter in the share capital of Electrica's subsidiaries, respectively Electrica Muntenia Nord SA (EDMN), Electrica Distributie Transilvania Nord SA(EDTN), Electrica Transilvania Sud (Electrica Distributie Transilvania Sud-EDTS) and SC Electrica Furnizare SA (Electrica Furnizare). S.C. Electrica shall purchase 21.99% stake EDMN or 7.8 million shares; 22% stake of EDTN or 8.17 million shares; 21.99% stake of EDTS or 9.33 million shares; and 22% stake of Electrica Furnizare or 1.37 million shares. At the completion of the negotiation process, the Board is required to publicly announce the offered price, either accepted or not accepted by Fondul Proprietatea, together with the economic argumentation that formed the base of the offer. Board will have to close the negotiation process by March 31, 2016.

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