The company, which is 80% owned by the Romanian government and 20% by Fondul Proprietatea, was initially supposed to complete this process on April 14 but the meeting was deferred due to the coronavirus crisis and lockdown measures in Romania.
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, CEO Bogdan Badea told Ziarul Financiar.
The company has earmarked a budget of RON3.8 billion for equity acquisitions.
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.