CEZ, the Czech energy utility company, is to sell its remaining Bulgarian interests to local company Inercom Bulgaria. In a deal estimated to be worth around $370m, CEZ will transfer ownership of seven businesses including CEZ Elektro Bulgaria, CEZ Trade Bulgaria, Free Energy Project Oreshetz and Bara Group. The sale was approved by the European Commission in December last year but has been delayed due to legal issues. The deal is expected to be finalised shortly, with a statement from CEZ saying the offer from Inercom was above market value for the assets.
CEZ, the Czech energy utility company, is to sell its remaining Bulgarian interests to local company Inercom Bulgaria. In a deal estimated to be worth around $370m, CEZ will transfer ownership of seven businesses including CEZ Elektro Bulgaria, CEZ Trade Bulgaria, Free Energy Project Oreshetz and Bara Group. It has also sold its first renewable investment in the country, the Oreshetz solar power plant in western Bulgaria. The deal is expected to be finalised shortly, with a statement from CEZ saying the offer from Inercom was above market value for the assets.