SAA has advised the founders of Respira Verde, a leading company in the collection of used cooking oil in Romania, on the sale of 50% of their stake in Respira to OMV Petrom, the largest integrated energy company in Southeastern Europe.
The transaction is subject to customary regulatory approvalls and is expected to close in the first quarter of 2024.
Through this transaction, Respira Verde joins OMV Petrom in its efforts to reduce emissions and produce sustainable fuels.
Founded 12 years ago, Respira Verde (https://respiraverde.eu/) collects up to 10,000 tons of used cooking oil per year from companies active in sectors such as hospitality (hotels, restaurants) and retail. The company has its own transport fleet, and it operates two main warehouses, in Bihor and Ialomita. It aims to expand its activity on other European markets in the near future.
OMV Petrom (www.omvpetrom.com/en) is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of approximately 43 million boe in 2022. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency power plant. The Group is present on the oil products retail market in Romania and neighbouring countries through approximately 780 filling stations under two brands – OMV and Petrom.
The SAA team was led by Partner Cristina Man (Corporate/M&A).