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28.09.2017 15:01
CEZ Holding Out for Better Price in Bulgarian Asset Sale
CEZ could sell all of the assets - including an electricity distributor, a coal-fired power plant and renewable energy facilities - as a package or in parts, a CEZ board member told Reuters

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Czech utility CEZ has shortlisted five bidders for the sale of its Bulgarian assets and wants to decide on a deal by the end of year or scrap it if it cannot secure the right price, a board member told Reuters.
Tomas Pleskac did not disclose the name of the bidders, saying only they had experience in the Balkans power sector.

CEZ could sell all of the assets - including an electricity distributor, a coal-fired power plant and renewable energy facilities - as a package or in parts, he said in an interview on Tuesday.
The company is exiting Bulgaria after long-running disputes with the authorities there and as it concentrates on the Czech and central European markets and a push into renewables, mainly in Germany and France where there are more opportunities.

Pleskac said three bidders sought the whole package of CEZ’s Bulgarian assets; one bidder wanted only the 1,265 MW coal-fired plant Varna; and another was looking at all the assets except the Varna plant, which is offline and requires upgrades to meet European Union regulations.

TAGS: CEZ | Bulgaria | asset sale | electricity | energy | power distribution | deal | power plant | Varna | coal 

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