Watchdog Clears E.ON Bulgaria Sale to Energo-Pro

Business » ENERGY | January 19, 2012, Thursday // 12:27| Views: | Comments: 0
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.

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

Energy » Be a reporter: Write and send your article
Tags: Energo PRO, power utility, EON, power distributor, hydro power, Commission on Protection of Competition, CPC
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
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