Inercom files a new request with CPC for acquisition of CEZ Bulgarian assets (POSITIVE)

Inercom, which earlier this year signed a share purchase contract for CEZ a.s.’ Bulgarian assets, announced that it has requested another review of the deal by the competition regulator CPC. The company stated that it had divested its renewable energy assets, which was one of the reasons for CPC’s decision to ban the sale in July. The earlier decision is being appealed and will be reviewed by the Supreme Administrative Court (SAC) in mid-May 2019. Besides the expected ruling of SAC or CPC (whichever comes first), the Energy and Water Regulatory Commission also needs to approve the deal. CEZ assets include 67% stake in the power distributor CEZ Distribution with its subsidiary CEZ ICT Bulgaria and 67% stake in the electricity supplier CEZ Electro, as well as 100% of the private companies - electricity trader CEZ Trade, the management company CEZ Bulgaria, the photovoltaic power plant Free Energy Project Oreshetz and the non-operational biomass power plant Bara Group.