CEZ sells Bulgarian assets for 335 million euros

Czech energy group CEZ has sold its Bulgarian assets to Eurohold AD, Bulgaria’s largest publicly-listed holding company.

The investment deal is worth 335 million euros and will happen through a combination of equity and debt financing.

CEZ’s assets in Bulgaria included power utility CEZ Distribution Bulgaria, power supplier CEZ Electro Bulgaria, 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.

Eurohold has already set up an advisory board comprising of experts with solid international experience in power distribution business that will consult the process of integrating CEZ Bulgaria’s operations into the structure of Eurohold.