Eurohold Confirms Start of Exclusive Talks Over Buying CEZ's Assets in Bulgaria
Financial and insurance group Eurohold Bulgaria said on Wednesday that it has been granted exclusivity in talks with Czech energy group CEZ over the sale of the group's assets 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.Earlier on Wednesday, CEZ press officer Alice Horakova told SeeNews in an emailed statement that the company has started exclusive talks with Eurohold over the sale of its Bulgarian assets.CEZ was considering offers from Eurohold Bulgaria and India Power over the sale of its assets in Bulgaria.As at 11:00 CET on Wednesday, Eurohold Bulgaria's shares traded 2.16% higher at 1.89 levs ($1.09/0.97 euro) on the Bulgarian Stock Exchange.By the same hour, CEZ Distribution Bulgaria [BUL:3CZ] shares traded 7.34% higher at 234 levs, while the other BSE-listed CEZ unit - CEZ Electro Bulgaria [BUL:1CZ] had not yet traded.