6 June 2024

Creditas completes acquisition of GGE

Creditas entered the Slovak energy market through its UCED division, which acquired a 100% stake in the energy company GGE. The seller was Infracapital, the investment division of British firm M&G. Financial details of the transaction were not disclosed.


GGE is one of Slovakia's leading energy groups, with a network covering 213 megawatts (MW) of heat and more than 70 MW of electricity. It invests in various energy sectors, including power generation, distribution and supply of electricity and heat. In addition, it has over 90 kilometers of thermal distribution lines and is dedicated to building and interconnecting local distribution networks. The transaction does not include the Polish subsidiary Duon.

Creditas Group focuses on long-term investments in conservative sectors and other financial services, energy and real estate. Their aim is to seek out new opportunities in the market, exploit them and develop their potential. Creditas has been active in the energy sector since 2013 and its energy division UCED is the fourth largest energy distributor in the Czech Republic. In 2023, UCED recorded an EBITDA profit of over CZK 2.2 billion. The company is headed by its founder and majority shareholder Pavel Hubáček.