Eurohold Bulgaria Submits Binding Bid for CEZ's Assets in Bulgaria

Eurohold Bulgaria Submits Binding Bid for CEZ's Assets in Bulgaria

Financial and insurance group Eurohold Bulgaria  said on Monday that it has submitted a binding offer for the assets of Czech energy group CEZ in Bulgaria.Eurohold Bulgaria will participate in the procedure for acquiring the assets on its own, and will use own funds, with additional support to be provided by leading Western European banks, the Bulgarian holding company said in a statement.Eurohold's intention to acquire the Czech energy group's assets in Bulgaria is part of its long term strategy to enter new business segments with high growth potential, it explained.Last month, CEZ told SeeNews that it has a new prospective buyer for its assets in Bulgaria, which had not submitted a binding bid in the initial call for offers in 2017. CEZ will determine its future course of action regarding the sale of its assets in Bulgaria in April, CEZ press officer Alice Horakova said at the time.The assets of CEZ 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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