Enna Geo d.o.o. to acquire IGeoPen d.o.o.

Enna Geo d.o.o. has agreed to acquire IGeoPen d.o.o. in a firm intention deal announced on 24 April 2026. The transaction involves an asset sale within the geothermal sector located in Croatia. The headline offer value stands at 1.5 million EUR, with consideration structured as a combination of cash and an earn-out arrangement. No completion date has been confirmed at this stage, and the deal remains subject to final regulatory approvals before execution.

This acquisition marks a strategic expansion for the buyer into the Croatian geothermal market through the purchase of specific assets from the target company. The structure allows for deferred payments linked to future performance metrics, aligning the interests of both parties during the transition period. The parties have not yet disclosed the specific assets being transferred or the detailed terms of the earn-out mechanism. The transaction is currently awaiting necessary regulatory clearances to proceed to completion.