Energo-Pro May Acquire Power Assets in Bulgaria from CEZ

Published: Apr 19 2017
Deal Summary

Energo-Pro AS, a power generation, transmission and distribution company, intends to acquire power assets in Bulgaria from CEZ, a.s., a power generation distribution and trading company, as reported by the sources citing people familiar with the matter.

According to the source, Energo-Pro has submitted offer for CEZ for assets in Bulgaria. The transaction had been estimated at up to EUR400 million (USD447.65 million) for the assets, including an electricity distributor that provides power to more than 2 million clients in western Bulgaria.

Earlier on April 19, 2017, sources familiar with the matter reported that CEZ is planning to sell its assets in Bulgaria. CEZ has received expressions of interest mainly from investors in the Balkan country. Earlier in January CEZ said it was testing market interest for its Bulgarian operations, including an electricity distributor that provides power to more than 2 million clients in western Bulgaria.

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