Electrica, Hidroelectrica and SAPE consortium plan to buy CEZ Romania

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Electrica has announced on BVB that it is exploring, through a consortium including two other companies, to join a competitive sale procedure organized by CEZ a.s.

“Electrica would like to inform its shareholders and investors regarding the fact that it is currently exploring the possibility to participate through a potential consortium to be formed with Societatea de Administrare a Participatiilor in Energie S.A. (S.A.P.E.  S.A.) and Societatea de Producere a Energiei Electrice in Hidrocentrale Hidroelectrica S.A., in a competitive procedure organized by CEZ a.s. for the sale of its Romanian subsidiaries.

Electrica shall promptly inform its shareholders and investors in connection with any aspects regarding the potential participation to the project described above, which shall be disclosed in accordance with the applicable legal provisions,” reads the announcement.

CEZ launched a market test regarding the asset transfer process from Romania, the company has announced in September last year.

The CEZ Group owns nine companies in Romania: Distribuție Energie Oltenia, CEZ Romania, CEZ Vânzare, CEZ Trade, CEZ ESCO Romania, Tomis Team, MW Invest, Ovidiu Development and TMK Hydroenergy Power.

In Romania, CEZ bought in 2005 the former branch of Electrica Oltenia for energy supply. The group also owns the largest wind power park in Europe, of 600MW, at Fântânele-Cogealac, as well as the hydroelectric system in Resita consisting in four reservoirs and four micro hydroelectric stations.

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