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.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
- » 4 New Gas Tankers are coming to Revithoussa in January - Part of the Fuel is for Bulgaria
- » Bulgaria has a little over 1 Million tons of Oil and Oil Product Reserves
- » Gas in Europe is Rising in Price with the Onset of Cold Weather
- » "Bulgargaz" offers Higher than announced Price of Natural Gas for December
- » The EC is holding Talks with Bulgaria due to Fears that there may be Exports from "Lukoil"
- » Bulgaria: Increase in the Price of Gas by nearly 19% for December due to Expensive Gas stored in Chiren