Watchdog Clears E.ON Bulgaria Sale to Energo-Pro

Business » ENERGY | January 19, 2012, Thursday // 12:27
Bulgaria: Watchdog Clears E.ON Bulgaria Sale to Energo-Pro

Bulgaria's Commission on Protection of Competition (CPC) has cleared the acquisition of EON Bulgaria EAD by Czech utility Energo-Pro.

In a Thursday statement, the anti-trust watchdog confirmed that the transaction does not obstruct fair competition on the market.

On December 03, E.ON's website informed that it had sold its 59% share of the power distribution business in Northeastern Bulgaria to Czech company Energo–Pro.

The European Bank for Reconstruction and Development (EBRD) followed suit by selling its 8% in the power supply and distribution business in the region.

Czech Energo–Pro paid a total of EUR 133 M for the 67% share of the business.

The Czech company already owns and operates 8 hydro power plants in Bulgaria united in three cascades -Sandanska Bistritsa Cascade, Koprinka Cascade and Petrohan Cascade.

The Czech utility also has has operations in the Czech Republic, Turkey, Georgia and Armenia.

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Tags: Energo PRO, power utility, EON, power distributor, hydro power, Commission on Protection of Competition, CPC
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