RO state consortium to submit firm offer for CEZ’s Romanian assets

A consortium formed by the Romanian state-controlled companies Hidroelectrica, Electrica and SAPE holding will reportedly submit a firm offer for the assets that the Czech utility group CEZ is selling in Romania, Economica.net announced.

The firm bid, which also includes a price for the assets, will be submitted on June 25.

Hydropower company Hidroelectrica is reportedly interested in CEZ's wind farms while Electrica would like to add the Czech group's electricity distribution network to those that it already operates.

CEZ has estimated the aggregated equity of its Romanian subsidiaries at EUR 1.07 billion, according to a presentation prepared for prospective bidders.

The two wind farms (347.5MW+252.5MW) account for nearly two-thirds of the total value of the CEZ assets in Romania: EUR 654 mln combined equity.

The stake in the electricity distribution company CEZ Oltenia is valued at EUR 385 mln.

CEZ also controls three smaller companies in Romania: CEZ Vanzare (electricity supply, EUR 18.6 mln), TMK Hydroenergy Power (22MW micro hydropower plants, EUR 9.5 mln) and the holding company, valued at EUR 8.25 mln.

(Photo: CEZ Romania Facebook Page)