{"id":7921,"date":"2019-09-09T17:53:01","date_gmt":"2019-09-09T16:53:01","guid":{"rendered":"https:\/\/praguebusinessjournal.com\/?p=7921"},"modified":"2019-09-17T18:02:36","modified_gmt":"2019-09-17T17:02:36","slug":"cez-sets-deadline-for-bidders-interested-in-romanian-assets","status":"publish","type":"post","link":"https:\/\/praguebusinessjournal.com\/cez-sets-deadline-for-bidders-interested-in-romanian-assets\/","title":{"rendered":"CEZ Sets Deadline For Bidders Interested In Romanian Assets"},"content":{"rendered":"\r\n<p>CEZ is expecting bidders to express their interest in acquiring its assets in Romania by Sept. 25, noon local time, the electricity producer said in an ad published on Monday.<\/p>\r\n<p>&nbsp;<\/p>\r\n\r\n\r\n\r\n<p>The state-controlled utility said that depending on the interest, it may sell all its assets in Romania or just part of them, namely in distribution, renewable resources and energy deliveries.<\/p>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n<p>Czech group CEZ officially launched a market test on the divestment process in Romania. The interest confirmed in writing by the potential investors will be followed by an invitation to submit non-binding offer.<\/p>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n<p>In Romania, CEZ is considering selling seven companies, keeping only those engaged in energy services (ESCO) activities and part of trading. These steps are in line with the new strategy previously approved by the parent company.<\/p>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n<p>CEZ has included seven Romanian companies in the market test (Distributie Energie Oltenia, Ovidiu Development, Tomis Team, MW Team Invest, CEZ Vanzare, TMK Hydroenergy Power and CEZ Romania). Potential investors can express their interest both for the entire group of companies mentioned, as well as individually for any of the companies. Testing of market interest is carried out exclusively for CEZ by the investment bank Soci\u00e9t\u00e9 G\u00e9n\u00e9rale. Potential investors will find instructions for expressing interest on the CEZ website (<a href=\"https:\/\/www.cez.cz\/en\/home.html\">www.cez.cz<\/a>).<\/p>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n<p>CEZ Group is one of the main integrated utility companies in Romania. It includes one of the largest distribution companies in the country (customer portfolio 1.4 million, 6,826 GWh of electricity delivered in 2018), Europe\u2019s largest onshore wind park Fantanele-Cogealac (600 MW installed capacity, 2018 production 1,105 GWh), a modernized hydropower system in Resita consisting of four dam reservoirs and four small hydropower stations (22 MW in total, 83 GWh produced in 2018) and electricity and gas supply to end-customers (3,425 GWh sold in 2018).<\/p>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n<p>The divestment of Romanian companies is in line with the new strategy of the parent company, approved in June this year. It provides for the gradual sale of assets in Bulgaria, Romania, Turkey and partly also in Poland. The exception is represented by companies focused on the field of modern energy services (ESCO), which CEZ wants to develop further both at home and abroad.<\/p>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n<p>CEZ Group entered the Romanian energy market in 2005 with the purchase of one of the distribution companies. Romanian assets have generated positive EBITDA from the start and regularly contribute to CEZ Group\u2019s dividends.<\/p>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n<p>The state-controlled utility said that depending on the interest, it may sell all its assets in Romania or just part of them, namely in distribution, renewable resources and energy deliveries.<\/p>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n<p>Credit: Energy Industry<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>CEZ is expecting bidders to express their interest in acquiring its assets in Romania by Sept. 25, noon local time, the electricity producer said in an ad published on Monday. &nbsp; The state-controlled utility said that depending on the interest, it may sell all its assets in Romania or just part of them, namely in &#8230; <a title=\"CEZ Sets Deadline For Bidders Interested In Romanian Assets\" class=\"read-more\" href=\"https:\/\/praguebusinessjournal.com\/cez-sets-deadline-for-bidders-interested-in-romanian-assets\/\" aria-label=\"Read more about CEZ Sets Deadline For Bidders Interested In Romanian Assets\">Read more<\/a><\/p>\n","protected":false},"author":5,"featured_media":3374,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[18],"tags":[124],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CEZ Sets Deadline For Bidders Interested In Romanian Assets - Prague Business Journal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/praguebusinessjournal.com\/cez-sets-deadline-for-bidders-interested-in-romanian-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CEZ Sets Deadline For Bidders Interested In Romanian Assets - Prague Business Journal\" \/>\n<meta property=\"og:description\" content=\"CEZ is expecting bidders to express their interest in acquiring its assets in Romania by Sept. 25, noon local time, the electricity producer said in an ad published on Monday. &nbsp; The state-controlled utility said that depending on the interest, it may sell all its assets in Romania or just part of them, namely in ... 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