Belgian energy supplier Mega, the largest independent player in the country’s market, has been acquired by Swiss MET Group, a growing energy trader and supplier with a turnover of 24.5 billion euros.
The acquisition, which involves a change in ownership, will see MET Group take over shares from the two largest stakeholders in Mega Group International, as reported by Belgian business newspaper De Tijd.
Despite the sale, Mega’s co-founders, Thomas Coune and Michael Corhay, will continue leading the company.
The Swiss buyer, MET Group, originally started as a trading company with Hungarian roots and has since expanded into a major energy player across 17 countries, with activities in electricity, gas, and renewable energy projects. The deal follows a turbulent period for Mega, which struggled during the energy crisis and had to secure emergency financing of 250 million euros to stay afloat.
The financial details of the transaction have not been disclosed, and questions remain about Mega’s current financial health, as it has yet to publish its 2023 financial results. However, the acquisition strengthens MET Group’s position in the Belgian energy market, giving it access to Mega’s extensive customer base of households and small businesses.
