Czech energy group CEZ will invite potential buyers of its assets in Romania to submit their offers next month, after having received more than 30 letters of interest during the market testing phase, Profit.ro.

The calendar for the sale of Romanian assets drafted by CEZ provides that the offers for the Romanian assets will be accepted in the second quarter of next year and the transaction will be finalized only in the first half of 2021.

One of the potential bidders is Romanian state-owned company Hidroelectrica, the largest local energy producer, which is interested in the renewable energy production assets, respectively the Cogealac wind farm and some small hydropower units.

Another potential bidder, Eurohold Bulgaria, the largest listed company in the neighboring country, is active on the Romanian insurance market and is interested in taking over CEZ's assets in Romania. Notably, Eurohold already signed an agreement to take over the CEZ subsidiaries in Bulgaria for the price of EUR 335 million.

In September, the CEZ group officially launched the process of selling its assets in Romania. CEZ aims to sell seven companies and keep those with activities in the field of modern energy services (ESCO) and trading.

Thus, CEZ included seven Romanian companies in the market testing, namely Oltenia Energy Distribution, Ovidiu Development, Tomis Team, MW Team Invest, CEZ Vanzare, TMK Hydroenergy Power and CEZ Romania.

(Photo: CEZ Romania Facebook Page)

editor@romania-insider.com