The takeover bids of EEEC for the acquisition of the remaining interests it does not own in the two energy companies were accepted by a total of 143 of CEZ Distribution's shareholders and a total of 19 of CEZ Electro's shareholders.
After the completion of the deals EEEC, which currently owns 67% of the capital in each of the two companies, will acquire additional 408 552 shares or 21.2% of the capital in CEZ Distribution for a total of approx. BGN 118.9 million, as well as additional 117 shares or 2.3% of the capital in CEZ Electro for a total of nearly BGN 3.2 million.
In October the energy subholding of urohold offered to buy the outstanding 33% interests it does not own in the two companies for a total of around BGN 230 million.
In July, urohold's unit - EEEC, acquired seven subsidiaries of Czech energy group CEZ in Bulgaria for EUR 335 million. As a result of the transaction, urohold became a majority owner of the largest power grid operator, the biggest power supplier and the largest licensed electricity trader in Bulgaria. 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 all CEZ Group's units in Bulgaria.