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Nov 07, 2017 11:57 EEST
November 7 (SeeNews) - Czech power utility CEZ Group said on Tuesday it is still in talks with potential buyers over the sale of its assets in Bulgaria.
"CEZ is still negotiating with more parties about the sale," CEZ press officer Alice Horakova told SeeNews in an e-mailed statement.
Her comment came after Czech news daily Hospodarske Noviny reported earlier on Tuesday that CEZ is close to completing the sale of assets in Bulgaria to India’s Future Energy.
According to the Czech news daily, CEZ intends to sell its power distribution unit in Bulgaria – CEZ Distribution, together with solar power plant Oreshets and biomass-fired power plant Bara. Hospodarske Noviny attributed its information to two separate sources close to the process.
Although the two sources have refused to comment on the price of the potential deal, it is definitely over 8 billion Czech crowns ($361.8 million/312.7 million euro), the Czech daily said.
Last week, the CEZ Group said it agreed to sell its Varna thermal power plant (TPP), part of its assets in Bulgaria, to local company SIGDA. The final purchase price will be determined as of closing of the transaction based on the level of working capital, CEZ said at the time.
In August, CEZ said it had received binding bids for its assets in Bulgaria from several unnamed candidates.
In January, the Czech group announced it had decided to study the options related to its equity investments in Bulgaria, based on the interest of several unnamed investors. It did not elaborate.
The 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 and Varna thermal power plant. The operations of those companies are managed and coordinated by CEZ Bulgaria.
(1 euro = 25.57 Czech crowns)
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