Банкеръ Weekly

Briefs

THE BULGARIAN DEAL IS OF STRATEGIC IMPORTANCE FOR CEZ

Vladimir Schmalz, Mergers Acquisitions DirectorWe are satisfied with the conditions of the contract - they reflect the mutual consideration of the interests of the negotiating parties and aim at providing stable growth of the companies in the western package as well as high-quality and accessible services for the final consumers.Soon we expect to become owners of a few electricity distribution companies - Stolichno, Sofia-Area, and Pleven, and to start implementing our plans. In general, they will aim at reducing losses due to transportation, at raising the efficiency of the companies and providing high quality of service to final consumers.The acquisition of the Bulgarian electricity distribution companies is of strategic importance for CEZ. It is a serious premise for our interest in the country's energy sector and for a potential participation in other privatisation procedures. It is also the first step towards the achievement of our long-term goal to make CEZ a global company with leading positions on the electricity market in Central and Eastern Europe.The successful development of the deal for the distribution companies gives us courage to think that we shall also succeed in the currently ongoing procedure for privatisation of the electricity distribution companies in Romania where we are among the five candidate buyers.

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