MYTILINEOS has announced that it has acquired all shares of WATT+VOLT, a greek company providing integrated Energy services and has a  portfolio of 200,000 customers.

The transaction was valued at EUR36 million (US$35.81 million), out of which EUR20 million (US$19.89 million) will be paid in cash and EUR16 million (US$15.91 million) in MYTILINEOS’ shares. These shares will be provided from the company's treasury stock at a price of EUR17 (US$16.9) per share.

The transaction intends to increase MYTILINEOS' activity in the retail supply of power and gas in Greece and in the wider region. This integration and the expansion of the customer base further strengthens the verticalization of the Power & Gas Business Unit of MYTILINEOS marking an important step towards creating the energy provider of the new era.

The acquisition is subject to the completion of the Transaction Documentation, as well as obtaining all necessary approvals from the Hellenic Competition Commission and other authorities.