Bulgarian Fin Regulator Probes Eurohold Over CEZ Deal Talks

Bulgarian Fin Regulator Probes Eurohold Over CEZ Deal Talks

Bulgaria's financial regulator said on Wednesday that it is launching a probe into local financial and insurance group Eurohold Bulgaria  and its major subsidiaries in connection with the high profile deal for the acquisition of the local assets of Czech energy group CEZ.Eurohold Bulgaria launched exclusive talks for the acquisition of CEZ assets in Bulgaria last week.The Financial Supervision Commission's main goal is to check the financial state and capacity of the holding company in view of future acquisitions, including of CEZ Distribution Bulgaria  and CEZ Electro Bulgaria , the financial regulator said in a statement.The regulator has notified the prosecutor's office and the State Agency for National Security about its actions.Eurohold Bulgaria has said it intends to participate in the procedure for acquiring the assets of CEZ on its own, and will use own funds, with additional support to be provided by leading Western European banks.CEZ's assets in Bulgaria comprise power utility CEZ Distribution Bulgaria, power supplier CEZ Electro Bulgaria, licensed electricity trader CEZ Trade Bulgaria, IT services company CEZ ICT Bulgaria, solar park Free Energy Project Oreshetz, biomass-fired power plant Bara Group and CEZ Bulgaria.

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