Swiss-based MET Group has received all required approvals from the relevant authorities and has now completed the acquisition of a 68.5% stake in the Liège-based energy and telecom supplier Mega Group International. The successful completion of the transaction will bring MET Group’s expertise and financial strength to Mega’s customers in Belgium and the Netherlands.
Mega Group International is an energy and telecom retailer focusing mostly on household customers in Belgium and the Netherlands, supplying gas and electricity as well as telecoms services. The company was founded in 2013 and ranks among the top 5 energy suppliers in Belgium, with a portfolio of close to 500,000 customers.
Under the agreement, MET Group acquired a 68.5% stake, while a 31.5% minority stake in Mega will remain with the founders (and current co-CEOs) Michael Corhay and Thomas Coune who will continue to lead the Mega business.
With MET’s capabilities and global supply portfolio, Mega will be able to expand its sales to small and medium-sized businesses as well as to industrial consumers in Belgium and the Netherlands. At the same time, the acquisition will lay the foundation for further growth in MET’s retail activities in various countries as well as expand the portfolio and knowledge to serve household customers across European markets.
MET Group’s Chairman and CEO Benjamin Lakatos said: “We decided to undertake this transaction because we believe in the importance which the retail segment plays in our energy value chain. I am convinced that the retail sales knowledge of Mega, when combined with the risk management framework of MET Group, will create many synergies not only for us but also for our customers. This milestone transaction in Belgium and the Netherlands is a great fit for our Western European strategy.”
MET Group
MET Group is an integrated European energy company, headquartered in Switzerland, with activities and assets in natural gas and power markets. MET is present in 19 countries through subsidiaries, 32 national gas markets, and 44 international trading hubs. The company's 1,100+ employees represent close to 60 nationalities. MET has extensive experience operating green (renewable) and flexible (conventional) energy assets, thereby providing the widest possible support to energy transition. In 2024, MET Group’s consolidated sales revenue amounted to EUR 17.9 billion, with a total traded volume of natural gas amounting to 140 BCM and total traded electricity of 76 TWh.