The Bulgarian Energy and Water Regulatory Commission (EWRC) granted approval to Eurohold Bulgaria for the acquisition of the Czech energy company CEZ Group’s subsidiaries in the country.
The deal includes 67% of the power utility CEZ Distribution Bulgaria and the power supplier CEZ Electro Bulgaria, as well as 100% of the shares of the licensed electricity trader CEZ Trade Bulgaria, IT services company CEZ ICT Bulgaria, solar park Free Energy Project Oreshetz, biomass-fired power plant Bara Group and CEZ Bulgaria that coordinates and manages all CEZ Group’s subsidiaries in Bulgaria.
Eurohold will acquire CEZ Group’s business in Bulgaria through its subsidiary and specially set up Eastern European Electric Company B.V. (EEEC).
The next stage in the acquisition process will be to sign financing agreements and transfer of the shares.
Eurohold will finance the acquisition through a combination of equity and borrowed capital provided by leading global investment banks.