ČEZ Completes 100% Acquisition of Two Romanian Companies

Czech power giant CEZ has completed months of negotiations with Romania’s Electrica SA by reaching an agreement to acquire full ownership of CEZ Distributie and CEZ Vanzare. The two Romanian energy providers have been part of CEZ group since a 2005 privatization deal in which the group acquired 51% of each company. CEZ paid more than €145 million for the 19% owned by Electrica SA, and combined with a 30% stake previously acquired from Fondul Proprietata, now owns both companies 100%.

CEZ Distributie and CEZ Vanzare were established in 2007 when Electrica Oltenia was required by EU regulation to split power sales from distribution.

CEZ Group (www.cez.cz)
CEZ Group is the largest electricity producer in the Czech Republic. The company aims to become the leader in the production and sale of electricity in the Central and South-eastern European markets. The company has since merged with five other regional utilities under the name CEZ Group, making it one of the largest such operations in Central and Eastern Europe.

The group operates not only in the Czech Republic, but also Bulgaria, Bosnia, Herzegovina, Romania, Serbia, and Ukraine.

CEZ has been awarded a rating of A- from Standard & Poor’s and an A2 from Moody’s.