Hidroelectrica has asked shareholders to meet on June 25 to approve and file a binding bid for the Romanian assets of CEZ. Hidroelectrica is considering acquiring CEZ’s wind power capabilities in Romania either on its own or in consortium and will seek shareholder approval to contract a loan in view of the acquisition.
Electrica is looking at CEZ’s electricity distribution operations.
CEZ has received preliminary bids that assess its local wind power and electricity distribution operations at EUR1.1-1.3 billion. The Czech utility group is seeking to sell its operations in Romania, Turkey, and Poland to focus on nuclear capabilities in the Czech Republic.