Czech Power Group Energo-Pro Submits Offer for CEZ Assets in Bulgaria

Business » INDUSTRY | June 27, 2017, Tuesday // 14:26
Bulgaria: Czech Power Group Energo-Pro Submits Offer for CEZ Assets in Bulgaria bgnes

Czech power group Energo-Pro has submitted an offer for the Bulgarian assets of power utility CEZ Group, the company’s Bulgarian subsidiary Energo-Pro Varna told SeeNews on Monday.

“We cannot provide further details as the procedure is still ongoing,” Energo-Pro Varna’s PR and marketing director Petya Popova told SeeNews in an e-mail.

In May, CEZ Group said it has started negotiations with investors on the sale of its assets in Bulgaria, without disclosing the names of the selected companies.

In January, CEZ Group announced it had decided to study the options related to its equity investments in Bulgaria, based on the interest of several unnamed investors. It did not elaborate.

CEZ Group assets in Bulgaria include CEZ Distribution Bulgaria AD, the public supplier of electricity and a licensed trader CEZ Electro Bulgaria, licensed electricity trader CEZ Trade Bulgaria and Varna thermal power plant. The operations of those companies are managed and coordinated by CEZ Bulgaria EAD.

Bulgarian-registered Energo Pro Varna, a wholly owned subsidiary of Energo-Pro, is engaged in power distribution in northeastern Bulgaria, where it is the sole licence holder, as well as in selling power to more than 1.2 million customers, including households and companies.

 

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Industry » Be a reporter: Write and send your article
Tags: Energo-Pro, CEZ Group, Energo Pro Varna, investments, electricity trader

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria