Hagag Europe Development acquires BTD Distribution and Supply, opening the Hagag Energy division with investments of 400 million euros and 200 jobs.

Hagag Europe Development, an Israeli real estate developer, is diversifying its activities in Romania by acquiring BTD Distribution and Supply, specialized in infrastructure and natural gas supply. The company will launch a new division, Hagag Energy, with an investment plan of over 400 million euros, aiming to expand in the energy sector.

Yitzhak Hagag, co-founder, stated that Romania is essential for their strategy, considering the potential of the natural gas market. Hagag Europe Development already has 67 contracts for gas distribution and anticipates the creation of 200 jobs by 2027. The company, present in Romania since 2017, has a real estate portfolio estimated at 350 million euros and aims to become an integrated strategic player in the energy field.