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CEZ Group: Divestment of Romanian assets to start in October, desired completion in 2022


The Czech utility group CEZ will start the process for the divestment of its assets in Romania in October and wants the transfer to be completed, or close to completion in 2022, company representatives said on Monday.

On Monday morning CEZ announced in a release that it is testing the market interest for divesting its Romania-based assets. Asked by Agerpres if this means starting the sale process, company officials replied: Market testing precedes the invitation to submit a non-binding offer which is a phase that precedes the asset divesting process. After we test the market we will assess the interest expressed and we will officially start the asset divestment process in October."

The Czech company's officials added that they are in no hurry with the completion of the process, as operations in Romania have positive results. CEZ included in the market testing seven Romanian companies (Oltenia Energy Distribution, Ovidiu Development, Tomis Team, MW Team Invest, CEZ Sale, TMK Hydroenergy Power and CEZ Romania), the release said.

Potential investors can express their interest for either the entire package, or for any individual company. Instructions for submitting their intentions are available on the CEZ website (www.cez.cz)

CEZ's exclusive investment advisor Societe Generale performs the testing of market interest.
CEZ Group entered the Romanian energy market in 2005, with the acquisition of a distribution company. Romanian assets generated positive EBITDA right from the beginning and regularly contribute to CEZ Group dividends.