Eurohold completes the acquisition of CEZ for EUR 335 million
Financial and insurance group Eurohold Bulgaria has completed the acquisition of the local business of Czech energy group CEZ for EUR 335 million.
The group acquired 67 percent interest in electricity distributor CEZ Distribution Bulgaria and power supplier CEZ Electro Bulgaria, as well as 100 percent of the shares of 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, the coordinator of CEZ Group’s units in Bulgaria.
"This acquisition of CEZ Group’s subsidiaries is a milestone in the development of not only our company, but the Bulgarian economy as well. It has ensured an inflow of over 500 million euro in the Bulgarian economy if we estimate the total value of the deal, including the price of the transaction, the forthcoming mandatory tender offer to the minority shareholders in two of the acquired companies and the investment programme of CEZ in Bulgaria," said Assen Christov, chairman of the supervisory board of Eurohold Bulgaria.
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