The transaction is subject to approval from the Extraordinary General Meeting of Shareholders on December 28, 2021.
Simtel Team is considering the acquisition of a 51% majority stake in ANT Power Energy for approximately RON1.5 million. The amount will be paid in two instalments: the first one nears RON475.000 and will be paid in cash and the second one nears RON1 million and will be converted into shares issued by Simtel, which will be settled within a share capital increase carried out to this end. The minority stake, of 49%, in ANT Power Energy will be owned by the founder Adrian Tita who will remain the company’s CEO.
“ANT Power services complement what we already offer on the market, and this transaction represents a strategic move in this wave of renewables. Therefore, we can say that we are the first and only company in the renewable energy sector that targets the energy independence of Romanian companies. We offer complete services to our customers, namely sizing and construction of photovoltaic power plants, design, procurement, commissioning, and maintenance. Moreover, with the conclusion of this partnership, we will provide new services such as the prediction of energy production and its and green certificates sale where appropriate. Thus, we will differentiate ourselves from the rest of the competitors. We aim to take full advantage of the Green Deal context by significantly increasing our turnover and supporting companies in their process of energy efficiency,” stated Iulian Nedea, co-founder and CEO of Simtel Team.
ANT Power Energy is a Romanian entrepreneurial company that mainly provides forecasting services for photovoltaic power plants. The company also provides customer representation services in the energy markets, the latter being producers of photovoltaic and wind energy and energy suppliers. The company’s business portfolio includes over 120 power plants and six energy suppliers.
“We are glad to take this step and join Simtel. After almost nine years of meeting the needs of our customers for renewable energy, we have chosen to take a step towards a new beginning. We consider that it is a logical step in consolidating the market position of both companies. We assure our clients and collaborators that we will continue with the same dedication and promptness in addressing their needs. Our services are complementary to those provided by Simtel. Together we will function as a unitary whole that offers a full range of technical and economic services in a context which is favorable to the development of renewable energy,” stated Adrian Tita, founder, and CEO of ANT Power Energy.
Simtel Team has been listed on the AeRO market of the Bucharest Stock Exchange since July 1, 2021. The company currently has a stock market capitalization of over RON160 million.
Simtel Team was established in 2010 by three Romanian entrepreneurs – Iulian Nedea, Sergiu Bazarciuc and Radu Vilau.