August 18 (SeeNews) - Czech power utility CEZ Group said on Friday it has received binding bids for its assets in Bulgaria from several candidates.
"The bids are being evaluated," CEZ Group said in a statement.
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It did not elaborate.
The assets of 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 and Varna thermal power plant. The operations of those companies are managed and coordinated by CEZ Bulgaria EAD.
In May, CEZ Group said it has started negotiations with selected investors on the sale of its assets in Bulgaria. In June, another Czech group operating on the Bulgarian power market, Energo-Pro, told SeeNews it has submitted an offer for the assets.
In January, CEZ Group announced it has decided to study the options related to its equity investments in Bulgaria, based on the interest of several unnamed investors. It did not elaborate.
In July 2016, CEZ Group said it has filed a request for international arbitration worth hundreds of millions of euro against Bulgaria over the country’s failure to observe the investment protection provisions of the Energy Charter Treaty. CEZ Group added it had repeatedly asked the Bulgarian government for speedy rectification of that state of affairs and for compensation for the damage caused, recalling that in November 2015 it had sent a notice to the Bulgarian government, in which it requested amicable settlement of the dispute.