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26.06.2017 17:42
Energo-Pro Confirmed It Has Submitted an Offer for the Bulgarian Assets of CEZ
In end-January of 2017 CEZ Group said it was to start an appraisal of investors’ interest in the light of a possible disposal of its Bulgarian assets

  • Energo-Pro Varna EAD headquarters in Varna, Bulgaria
    © Energo-Pro

Czech energy group Energo-Pro has submitted an offer for the acquisition of the Bulgarian assets of another Czech company – CEZ, in Bulgaria. The information has been confirmed by Energo-Pro for

“We could not give any other details, as the procedure is still ongoing”, a representative of Energo-Pro said.

Earlier today Momchil Andreev, CEO of Energo-Pro Varna said that the group was still interested in acquiring the assets of CEZ in Bulgaria in order to ‘become even more productive’.

In end-January of 2017 CEZ Group said it was to start an appraisal of investors’ interest in the light of a possible sale of its Bulgarian assets. CEZ manages electricity supply and distribution in Northwestern Bulgaria, including the capital city Sofia, along with a power trading subsidiary, two renewable energy generations, and the defunct Varna thermal power station, closed in 2014.

Negotiations with select investors kicked off on May 17.

TAGS: Energo-pro | CEZ | Bulgaria | sale | disposal | M&A | acquisition | energy | utilities | business | investors 

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