EEEC (Eastern European Electric Company - the holding consolidating urohold Bulgaria's energy operations) - currently owns 67% of the capital in the two utility companies.
Thus, EEEC offers to buy
- the outstanding 636 240 shares in CEZ Distribution Bulgaria for a price of BGN 291 per share, or a total of BGN 185.2 million, and
- the remaining 1650 shares in CEZ Electro Bulgaria for a price of BGN 26 904 per share, or a total of BGN 44.4 million.
In July, urohold completed the acquisition, through its unit EEEC, of seven subsidiaries of Czech energy group CEZ in Bulgaria for EUR 335 million. As a result of the transaction, urohold has taken over 67% interest in the largest power grid operator in Bulgaria and the same stake in the biggest power supplier in the country, as well as 100% of the capital of the largest licensed electricity trader. The group also acquired an IT services company, a solar park, a biomass-fired power plant and the company that used to coordinate the operations of CEZ Group's units in Bulgaria.