Czech utilities group CEZ will have to put on hold the sale of its Romanian assets during the state of emergency in the country, namely at least until May 16, after Romania’s Government banned any transfer of majority stakes in utilities companies during the state of emergency through its 8th military ordinance, Economica.net reported.

CEZ wants to sell the distribution of electricity in Oltenia, a region in southern Romania, the wind farm in Dobrogea (about 600 MW, the largest onshore wind farm in Europe), the electricity supply company - which has 1.4 million customers - and its four micro-hydro plants in the Resita area (with a combined installed power of 22 MW).

CEZ invited prospective bidders on September 9, 2019. In March, CEZ received preliminary offers evaluating its assets in Romania at EUR 1.1-1.3 billion.

The company was expected to respond to the bidders by the end of the month.

According to Ziarul Financiar, among the competitors in the race for the CEZ assets are Australian group Macquarie, DWS - the investment fund of Deutsche Bank, Hungarian state owned group MVM, Austrian OMV group, and a consortium formed by Romanian state-controlled companies Hidroelectrica, Electrica and state energy consortium SAPE.

(Photo: CEZ Romania Facebook Page)

editor@romania-insider.com