MET group eyes major acquisition of Achema Group to enhance energy and chemical operations

Swiss-based energy conglomerate MET Group has expressed its intent to acquire a 54.07% majority share in Lithuania’s Achema Group, a manufacturer of nitrogen fertilizers and chemical products in the Baltic region. The acquisition aims to merge the distinct advantages of both entities to foster additional value creation.

Following a financially robust year with a consolidated revenue reaching 24.5 billion euros in 2023, MET Group is poised to further its growth trajectory. Achema Group, known for its seasoned management and proficient workforce, is viewed as an optimal addition to MET’s value chain, enhancing the Swiss firm’s offerings and market reach.

Benjamin Lakatos, Chairman and CEO of MET Group, emphasized the acquisition’s potential to usher in a prosperous era for Achema, aiming to deliver substantial benefits to employees, customers, and the wider community. The approach is based on a philosophy of partnership, seeking to develop solutions agreeable to all stakeholders.

The completion of this acquisition hinges on standard due diligence processes and obtaining necessary regulatory approvals. MET Group also plans to negotiate terms with minority shareholders of Achema, indicating that the acquisition may involve a complex series of legal and procedural steps. Updates will be provided as the transaction progresses.

MET Group operates across Europe with significant engagements in the natural gas and power sectors, possessing a strong portfolio in both green (renewable) and flexible (conventional) energy assets. In contrast, Achema Group, established in 1994 and one of Lithuania’s largest private employers, spans several sectors, including fertilizer production, agribusiness, and energy, with considerable involvement in renewable energy generation and the operation of Lithuania’s LNG terminal in Klaipeda through KN Energies.

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