MET Group, one of the fastest-growing European energy companies headquartered in Switzerland, announced interest in acquiring 54.07 per cent of the shares in Achema Group, the Baltic’s leading producer of nitrogen fertiliser and chemical products. The transaction aims to combine the complementary strengths of the two companies, thereby facilitating substantial value creation.
With 2023 being its second most profitable year, supported by consolidated revenue of 24.5 billion euros, Swiss-based MET Group has the financial strength to continue its growth strategy. MET has identified Achema Group as the ideal partner for its growth. According to the company’s press statement, Achema is an outstanding company, with experienced management and skilled employees, that perfectly fits into MET’s value chain.
“This potential acquisition would be a significant step towards creating substantial value for the employees, the customers and the broader environment of Achema,” commented Benjamin Lakatos, Chairman and CEO of MET Group. “We want a new prosperous era for Achema and we are committed to developing solutions that are acceptable to all the stakeholders, based on a partnership philosophy.”
To close the transaction, customary due diligence and regulatory approvals are required. Additionally, MET plans to reach an agreement with the minority shareholders. As a result, a longer process involving several legal and procedural steps is expected.