CEZ Group completes sale of Romanian assets to Macquarie


BUCHAREST (Romania), April 1 (SeeNews) - Czech energy group CEZ said that it has completed the sale of its assets in Romania to funds managed by Macquarie Infrastructure and Real Assets (MIRA), part of global financial services organisation Macquarie Group.

"Through the sale of Romanian companies, CEZ 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 higher dividend to its shareholders," the group said in a press release on Wednesday.

The seven companies part of the transaction are: Distributie Energie Oltenia, Ovidiu Development, Tomis Team, MW Team Invest, CEZ Vanzare, TMK Hydroenergy Power and CEZ Romania.

MIRA announced in October that a consortium led by Macquarie European Infrastructure Fund 6 (MEIF6) has reached an agreement to acquire CEZ power assets in Romania. The value of the deal was not disclosed. The European Commission approved the acquisition in January.

In Romania, CEZ Group remains active in the area of ‚Äč‚Äčtrading through CEZ Trade Romania and providing energy services through High-Tech Clima.

CEZ entered the Romanian energy market in 2005 with the acquisition of the power distribution company Electrica Oltenia, which operates in the southwestern part of the country, operates 86,665 km of electricity networks and serves approximately 1.4 million customers. In Romania, CEZ also operated production sources with a total installed capacity of 622 MW.

Macquarie is an Australia-headquartered global financial services group operating in 31 markets in asset management, retail and business banking, wealth management, leasing and asset financing, market access, commodity trading, renewables development, investment banking and principal investment.

Join Renewables Now's free daily newsletter now!

More stories to explore
Share this story
About the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription