CEZ Group

CEZ Distribution Bulgaria has received a construction permit for its EUR 1.5 million project to replace the 110 kV Zenit power transmission line and partly reconstruct two substations in Sofia, the company has said in a statement, according to reports.

The Bulgarian Eurohold business group will take over CEZ Group's entire assets in Bulgaria, the two companies announced on Thursday.

The largest publicly listed Bulgarian holding company will pay 335 million euros for the Bulgarian assets of the Czech utility operator.

Bulgarian holding company Eurohold has signed a deal to buy the Bulgarian assets of Czech utility CEZ for 335 million euros ($377.9 million), it said on Thursday. 

Eurohold, active in insurance and asset management, entered exclusive talks in April to acquire CEZ's assets in the Balkan country including a power distributor that provides electricity to more than 3 million Bulgarians.

Czech CEZ plans to sell its assets in Romania, Bulgaria, Turkey and Poland as part of its strategy to concentrate on the Czech market, according to General Director Daniel Beneš, quoted by Agerpres.

The three electricity distribution companies in Bulgaria CEZ, EVN and Energo Pro have submitted applications to the Energy and Water Regulatory Commission seeking new increase in the prices of electricity as of 1st of July, reports BNT. 

The largest public holding company in Bulgaria and one of the leading independent business groups in Central and Southeastern Europe - Eurohold Bulgaria AD received exclusivity for the acquisition of the assets of electricity supplier, CEZ Group, in Bulgaria, the holding said in a press release to the media on 17th of April, reports BNT. 

The withdrawal of the Czech energy company CEZ from the Bulgarian market went into a new phase. According to sources in the Czech Lidovky Noviny newspaper, close to the management of the company, the company has decided to suspend the negotiations for the purchase of its assets with India Indian Power and stay with the Bulgarian financial group Eurohold.

The Commission for Protection of Competition (CPC)  stopped Incercom from acquiring CEZ's assets in Bulgaria.

Czech CEZ will examine the possibilities for the Bulgarian state to enter the deal for the sale of the Bulgarian branch of the company, CEZ Group spokesperson Alica Horakova told BNT on 9th of March. A full legal analysis will be carried out, after which the negotiations with the company "Inercom" will continue.

Whether the Bulgarian state will be able to buy shares from CEZ will be understood at the end of next week. This was announced by the Inercom office.