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.
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.
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.