ČEZ to sell its Bulgarian assets to Intercom
ČEZ granted consent to the sale of its Bulgarian-based assets containing several companies to Inercom Bulgaria. Taking into account sale price, the company's Bulgarian operations reportedly yielded an overall positive return. ČEZ is still in international arbitration against the Republic of Bulgaria and the procedure will not be affected by this transaction. In the following weeks, the sale procedure will be completed ending a 14 year long ČEZ presence in Bulgaria. ČEZ entered the Bulgarian electricity market in 2004 with the acquisition of two thirds of shares in three distribution companies. During this period, ČEZ operations in Bulgaria managed to supply up to 9.7 TWh of electricity during the course of a year..