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25.09.2017 11:16
Energo Pro Group Has Improved Its Offer for the Sale of CEZ Bulgaria Assets
Energo Pro said it was interested only in the CEZ power distribution business in Bulgaria and would not acquire Varna TPP

  • CEZ Group is willing to dispose of its power distribution business in Bulgaria
    © CEZ Group

Czech Energo Pro Group has improved its offer for the acquisition of the Bulgarian business of another Czech energy group – CEZ Group.

Czech newspaper Hospodarske Noviny speculated that the updated offer exceeded the initial EUR 300 m requested by CEZ.

The information has been confirmed by an Energo Pro speaker, without elaborations on the correction amount. Hana Hikelova of Energo Pro said that the new offer exceeded the company’s initial investment in Bulgaria, which is estimated at EUR 282 m, and also topped the initial CEZ request.

Energo-Pro further said for another Czech media – Kurzy, that it was not interested in acquiring Varna TPP owned by CEZ and that the updated offer concerned only the CEZ power distribution business in Bulgaria.

On its turn CEZ said that it is in talks with several potential buyers which are to update their offers over the course of a one week.

TAGS: Energo Pro Group | CEZ | Bulgaria | acquisition | sale | investment | power distribution | Varna TPP | energy 

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