site.btaFinancial Regulator Audits Eurohold Bulgaria amid Its Talks for Acquisition of Bulgarian Assets of CEZ

24 April (BTA) - The Financial Supervision Commission (FSC) is starting an audit of Eurohold Bulgaria AD and its major companies. It said in a statement for the press that the audit has been prompted by the heightened public interest in the possible purchase of the Bulgarian assets of Czech energy group CEZ by Eurohold.

The FSC's main objective is to verify the financial condition and capacity of the holding company with future acquisitions in mind, including CEZ Distribution Bulgaria AD and CEZ Electro Bulgaria AD.

By law, power distribution companies are part of the national European critical infrastructure with a direct relationship to national security issues.

Eurohold Bulgaria was granted exclusivity last week in the talkson possible purchase of the Bulgarian assets of CEZ.

It is the third potential buyer after two others - Inercom of Bulgaria and Indian Power, dropped out for different reasons. The first failed to secure an approval from the deal by the national energy regulator amid suspicions over the origin of the money.

While Eurohold does not have the reputation problems of Inercom, it lacks any experience in the energy sector - which experts and opposition politicians have been quick to point out.

The prosecution magistracy and the State Agency for National Security are informed about the audits and will be informed of the results, as well as of any facts that suggest irregularities. RY/DT