CREDITAS Group continues its expansion in Central Europe
January 9, 2025
The CREDITAS Group strengthens its position in the Central European region. Its energy division, UCED, acquired 100% of Duon, a major player in the Polish market, particularly in the distribution and sale of natural gas. The seller is Infracapital, the infrastructure investment division of the UK-based M&G Plc.
In the past, Duon was a subsidiary of GGE a.s., an important producer and distributor of electricity and heat in Slovakia, which was sold by Infracapital to energy division UCED in April 2024. "Following the acquisition of 100% of the Slovak GGE Group, the acquisition of Duon is another step towards extension of our activities in Central Europe. Duon has a significant position in the Polish energy market, and we believe that this acquisition will bring new opportunities for mutual growth and synergies," says Richard Holešinský, Investment Director at UCED.
Duon focuses on the distribution and sale of natural gas through distribution networks and liquefied natural gas (LNG). The company owns distribution networks and plants for the conversion of liquefied natural gas back into its gaseous state and its distribution through pipelines, of which the company has more than 800 kilometres.
"During our ownership, under the leadership of Krzysztof Kowalski, CEO, the company became a significant driver of the energy transformation in Poland. Duon is now being handed over in great shape and we look forward to seeing its continued success under its new owner, the CREDITAS Group," says Andreas Bäckman, Director of Infracapital.
The CREDITAS Group has been active in the energy sector since 2013. Its energy division, UCED, invests in various areas of the energy industry in the Czech Republic and Slovakia, from power and heat generation to distribution and to supply.
