Czech Republic–based CEZ Group is looking to divest seven companies in Romania in accordance with its new development strategy that was approved in June.
Such companies include Energy Distribution Oltenia, Ovidiu Development, Tomis Team, MW Team Invest, CEZ Vanzare, TMK Hydroenergy Power and CEZ Romania.
CEZ launched the market sounding today, inviting investors to bid on both the entire portfolio or the companies individually.
The move follows CEZ’s new strategy, which dictates the gradual sale of assets in Bulgaria, Romania, Turkey and partly Poland, with the exception of companies focused on the field of modern energy services (ESCO), which CEZ wants to develop further both at home and abroad.
One of the three-largest heat suppliers in the Czech Republic, CEZ’s businesses encompass power and heat generation, trading, and distribution, as well as coal mining. The company also deals in telecommunications, informatics, nuclear research, planning, construction and maintenance of energy facilities, mining raw materials, and processing energy by-products.
Its assets include one of the largest distribution companies in the country, Europe's largest on-shore wind park Fantanele-Cogealac, a modernized hydroelectric system Reşita consisting of four dam reservoirs and four small hydroelectric power stations.
CEZ Group entered the Romanian energy market in 2005 with the purchase of one of the distribution companies.
