The assets of Congaz will be transferred to GDF SUEZ Energy Romania and its division Distrigaz Sud Retele București.
The proposition to split Congaz will be subjected to shareholders’ approval on April 28.
GDF Suez Energy took over 57.18% in Congaz Constanta in June last year from E.ON Ruhrgas International and OMV Petrom, reaching a 86% stake in the natural gas distributor. The remaining share of Congaz is owned by Petroconst (13.94%), the local council of the municipality of Medgidia (0.028%), the local council of the municipality of Mihail Kogalniceanu (0.141%), the local council of the municipality of Ovidiu (0.028%) and the local council of Cogealac commune (0.084%).
Congaz, founded in 1999, has nearly 250 employees and operates 850 km of pipelines. Congaz delivers natural gas to 55,000 consumers in Constanta county.
GDF SUEZ Energy Romania is part of Franco-Belgian group GDF SUEZ and operates the renewable energy, electricity and natural gas supply and distribution in Romania.
Congaz had a net turnover of RON158.1 million and a net profit of RON13.7 million in 2013, according to Finance Ministry data.