Veolia Energia Slovensko has successfully completed the acquisition of seven companies belonging to the ENGIE group in Slovakia. BDO Slovakia also played a role in this significant transaction in the Slovak energy sector, providing comprehensive sell-side advisory services to ENGIE, including Financial and Tax Vendor Due Diligence.
A significant transaction in the Slovak energy market
Through the acquisition of ENGIE's Slovak businesses, Veolia is strengthening its position in the Slovak energy market and expanding its capabilities in heat generation and distribution, energy services, and technical facility management.
The transaction involved seven companies: ENGIE Services, a. s., Račianska teplárenská a. s., Prvá ružinovská spoločnosť a. s., and their subsidiaries ENERGY DISTRIBUTION a. s., TERMMING a. s., Tepelné hospodárstvo Moldava a. s., and LMT a. s.
The combination creates one of the strongest privately owned energy groups in Slovakia, employing more than 1,370 people. By bringing together the expertise and capabilities of both groups, it creates further opportunities for the development of integrated energy solutions.
The transaction was successfully completed following approval by the Antimonopoly Office of the Slovak Republic and the fulfilment of all conditions under the share purchase agreement signed in January 2026.
BDO's role: comprehensive sell-side advisory
BDO Slovakia acted as an adviser to ENGIE, representing the seller's interests in the transaction. Our engagement included the preparation of Financial and Tax Vendor Due Diligence, an important component of preparing companies for sale.
Comprehensive sell-side advisory services with a focus on Financial and Tax Vendor Due Diligence in connection with the sale of ENGIE's Slovak companies to Veolia.
In complex transactions, particularly in regulated industries, thorough financial and tax due diligence is essential to ensuring transparency and supporting a well-prepared transaction process.
Vendor Due Diligence enables the seller to identify and assess relevant financial and tax aspects of the business, prepare structured information for prospective buyers, and navigate the different stages of the sale process more effectively.
BDO's involvement in the transaction brought together financial and tax advisory expertise in the assessment of a group of companies operating within the energy sector.
Collaboration across BDO's advisory teams
The project brought together professionals from BDO Slovakia's financial and tax advisory teams, whose expertise and dedicated approach supported the preparation of the transaction.
Financial Vendor Due Diligence
Alex Šrank
Peter Chochol
Petra Pelešová
Henrich Daubner
Tax Vendor Due Diligence
Miroslav Tain
Lucia Bellanová
Tomáš Sandtner
The project also highlights the importance of multidisciplinary collaboration in transactions that require a comprehensive understanding of financial, tax and industry-specific considerations.
Expert advisory support for strategic transactions
The completion of the acquisition marks a significant development in the consolidation of the Slovak energy sector and represents another major transaction in which BDO Slovak Republic provided advisory services on the sell side.
Our transaction advisory teams support clients in business disposals, acquisitions and strategic investments through financial and tax advisory services. We focus on rigorous analysis, the identification of relevant risks and the delivery of reliable information to support informed business decisions.
Our involvement in a transaction of this scale represents a significant addition to our transaction advisory credentials and demonstrates our teams' ability to deliver on complex engagements requiring exceptional attention to quality, detail and professional rigour.
Planning a business sale, acquisition or strategic investment?
Contact the experts at BDO Slovak Republic. We can help you navigate the financial and tax aspects of your transaction and prepare for each stage of the process.