site.btaFinancial Regulator Is Checking CEZ' Deal with Eurohold Bulgaria
NW 19:21:31 24-06-2019
LN1920NW.119
119 - ECONOMY - FINANCIAL REGULATOR - CEZ - DEAL - CHECK
Financial Regulator Is Checking
CEZ' Deal with
Eurohold Bulgaria
Sofia, June 24 (BTA) - The Financial Supervision Commission said Monday that it is checking the buyer of the Bulgarian assets of Czech energy group CEZ. The findings of the check are due by June 28.
On June 20, Eurohold Bulgaria AD said it had signed an agreement with CEZ on the acquisition of CEZ's Bulgarian business for 335 million euro. The purchase will be financed through a combination of equity and debt financing.
The financial regulator said that it is working on four checks of Eurohold Bulgaria and of the operation of three of the group's insurance companies. The regulator is specifically looking into the financial condition of Eurohold and whether it is capable of providing the resources that will be needed to acquire the CEZ business and maintain adequate energy infrastructure.
By June 28, the Financial Regulation Commission is due to report the findings to the Prosecutor General's Office and the State Agency for National Security.
Speaking to reporters in Parliament last week, Energy Minister Temenouzhka Petkova said that the deal is governed by Czech law and the Bulgarian government has nothing to do with the matter.
CEZ came on the Bulgarian market in 2004 when it purchased two-thirds of the capital in three power distribution companies. At the moment CEZ supplies electricity to close to 3 million Bulgarian clients, including Sofianites. IG/LN/ //
LN1920NW.119
119 - ECONOMY - FINANCIAL REGULATOR - CEZ - DEAL - CHECK
Financial Regulator Is Checking
CEZ' Deal with
Eurohold Bulgaria
Sofia, June 24 (BTA) - The Financial Supervision Commission said Monday that it is checking the buyer of the Bulgarian assets of Czech energy group CEZ. The findings of the check are due by June 28.
On June 20, Eurohold Bulgaria AD said it had signed an agreement with CEZ on the acquisition of CEZ's Bulgarian business for 335 million euro. The purchase will be financed through a combination of equity and debt financing.
The financial regulator said that it is working on four checks of Eurohold Bulgaria and of the operation of three of the group's insurance companies. The regulator is specifically looking into the financial condition of Eurohold and whether it is capable of providing the resources that will be needed to acquire the CEZ business and maintain adequate energy infrastructure.
By June 28, the Financial Regulation Commission is due to report the findings to the Prosecutor General's Office and the State Agency for National Security.
Speaking to reporters in Parliament last week, Energy Minister Temenouzhka Petkova said that the deal is governed by Czech law and the Bulgarian government has nothing to do with the matter.
CEZ came on the Bulgarian market in 2004 when it purchased two-thirds of the capital in three power distribution companies. At the moment CEZ supplies electricity to close to 3 million Bulgarian clients, including Sofianites. IG/LN/ //
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