ČEZ selling Bulgarian assets to local firm Eurohold for 335 mn euros

Czech state-run power group ČEZ has announced plans to sell its Bulgarian assets to local investors Eurohold for 335 million euros, subject to approval by regulatory authorities.

ČEZ entered the Bulgarian market in 2004. The prospective sale concerns seven of its local units.

Last February, a rumour that ČEZ might sell major Bulgarian assets to small firm called Inercom sparked protests over alleged corruption that led the Minister of Energy to resign.

Author: Brian Kenety