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The Commission for Protection of Competition officially has notified Eurohold Bulgaria AD that permission is given to the company to acquire the subsidiaries of CEZ Group in Bulgaria - the electricity distributor for Northwestern part of Bulgaria, including the capital Sofia. This was announced by Eurohold Bulgaria.
The acquisition permit is acquired through the specially created Eastern European Electric Company B.V. (EEEC), 100% owned by Eurohold.
The integration of CEZ Group companies in Bulgaria in the structure of Eurohold will be supported by an energy board of Bulgarian and international experts - Gary Levsley, Dan Catalin Stanku and Georgi Mikov.
The current senior management of CEZ Bulgaria will maintain its positions to ensure continuity in management.
"We see the CEZ deal as a step towards entering the energy business and an opportunity to diversify our portfolio. Eurohold has solid experience in regulated markets and in the acquisition and integration of new companies in various sectors. Over the past 20 years we have made about 30 acquisitions and we have accumulated significant expertise ", commented Vasil Stefanov, Head of M&A at Eurohold Bulgaria.
The Prosecutor's Office and the Interior Ministry are continuing the investigation into the large theft of electricity in the Sofia village of Herakovo.
High-voltage power lines accident, owned by the State Electricity System Operator, led to the exclusion of the Boyana substation in Sofia, CEZ reported.
CEZ Distribution Bulgaria received a building permit for its largest project in 2019 - replacement of the 110 kV Zenit cable and partial reconstruction of two substations related to automation of network management, the company said.
An intentional arson of a cable shaft on Tsvetan Lazarov Street in the Druzhba district in Sofia provoked a cable fault, the press center of CEZ Bulgaria announced.
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