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HomeFinanceČEZ Group completes the sale of its Romanian companies to MIRA

ČEZ Group completes the sale of its Romanian companies to MIRA

Eighteen months after the start of the divestment process, Czech utility group ČEZ has successfully concluded a transaction in which its Romanian assets have been acquired by funds managed by the world’s largest infrastructure manager Macquarie Infrastructure and Real Assets (MIRA).

Seven Romanian companies (Distributie Energie Oltenia, Ovidiu Development, Tomis Team, MW Team Invest, CEZ Vanzare, TMK Hydroenergy Power and CEZ Romania) are thus changing their owner.

The sale is part of ČEZ Group’s strategic plan to divest selected assets in some countries. In Romania, ČEZ Group remains active in the area of trading (through CEZ Trade Romania) and providing modern energy services (through High-Tech Clima).

In line with the new strategy, ČEZ Group launched a divestment process of its Romanian assets in September 2019. A high level of competition among investors was maintained throughout the entire transaction. MIRA’s offer was the most attractive of all the submitted bids. The transaction was approved by the European Directorate-General for Competition and subsequently by the Supreme Council of National Defence.

Through the sale of Romanian companies, ČEZ will increase its debt capacity, will be able to redirect funds to development investments related to the Group’s current strategy and will be able to pay a higher dividend to its shareholders.

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