Gazprom bought German electricity supplier Envacom Service as it seeks a foothold in the country's power industry before a possible generator deal with RWE.
Gazprom Marketing & Trading, the company's London-based division, is adding to its power business in Britain, Ireland, France and the Netherlands, the unit said Monday in a statement, without disclosing terms of the deal.
Envacom has 500,000 customers in Germany, said Daniel Florian, a spokesman for Gazprom Marketing & Trading. Envacom will be rebranded as Gazprom Energy, and its telecommunications business will remain under the control of Envacom's previous owner, Tillman Raith, Gazprom said.
(Bloomberg)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
