January 9 (SeeNews) - Czech energy conglomerate CEZ told SeeNews on Tuesday it is still in talks with one of the potential buyers of its assets in Bulgaria and hopes a deal will be concluded in the first quarter of the year.
"We are currently more focused on closing the deal successfully than on sticking to a certain date. However, we are hoping to finalize the deal in the first quarter of 2018," CEZ press officer Alice Horakova told SeeNews in an e-mailed statement.
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"The negotiations are still on-going with one of the finalists," Horakova said,
Sofia-based Capital Daily newspaper reported last month that CEZ was in exclusive talks with Bulgarian solar park operator Inercom on the sale of its assets. The bidder had to provide guarantees to CEZ that it has the necessary funds to complete the deal by Christmas, the newspaper said at the time.
On December 4, CEZ told SeeNews it hoped to come up with a decision regarding the planned sale of its assets in Bulgaria by the end of 2017.
The Czech group has already agreed the sale of one its assets in Bulgaria, a 1,260 MW thermal power plant (TPP) located in Varna, to a Bulgarian buyer. On December 12, Bulgaria’s Commission for Protection of Competition said it has allowed Bulgarian logistics company SIGDA to acquire Varna TPP for an undisclosed price.
The remaining assets of the CEZ Group in Bulgaria comprise CEZ Distribution Bulgaria, the public supplier of electricity and a licensed trader CEZ Electro Bulgaria, licensed electricity trader CEZ Trade Bulgaria. The operations of those companies are managed and coordinated by CEZ Bulgaria.