Inercom

The Bulgarian Eurohold business group will take over CEZ Group's entire assets in Bulgaria, the two companies announced on Thursday.

The largest publicly listed Bulgarian holding company will pay 335 million euros for the Bulgarian assets of the Czech utility operator.

Bulgarian holding company Eurohold has signed a deal to buy the Bulgarian assets of Czech utility CEZ for 335 million euros ($377.9 million), it said on Thursday. 

Eurohold, active in insurance and asset management, entered exclusive talks in April to acquire CEZ's assets in the Balkan country including a power distributor that provides electricity to more than 3 million Bulgarians.

The Bulgarian company Inercom is no longer considered by CEZ as an exclusive candidate in the deal for the Bulgarian assets of the company and is also negotiating with the Indian "India Power Corp.". This is stated on the site of the Czech newspaper Lidove News, quoting sources from CEZ, reports Dnevnik.

Swedish entertainment group MTG, the biggest shareholder in Bulgaria's largest media conglomerate, consisting of Nova TV and Nova Broadcasting Group, announced on Monday it has terminated its agreement to sell its share to the Czech PFF Group, owned by businessman and media mogul Petr Kellner.

Introduction

On 19 July 2018 the Commission for the Protection of Competition (CPC) prohibited the following two concentrations:

SOFIA (Reuters) - Bulgaria's solar energy producer Inercom has launched a court challenge against an anti-monopoly regulator's ruling to block its acquisition of the Bulgarian assets of Czech utility CEZ (CEZP.PR), the company said on Monday.

In separate decisions published on Thursday, Bulgaria's anti-monopoly body, the Commission on Protection of Competition, CPC, has prohibited the signing of two of the largest recent deals in the country.

One was the sale of the Bulgarian assets of the Czech energy giant CEZ to a Bulgarian family-owned company, Inercom.

The Commission for Protection of Competition (CPC)  stopped Incercom from acquiring CEZ's assets in Bulgaria.

Czech CEZ will examine the possibilities for the Bulgarian state to enter the deal for the sale of the Bulgarian branch of the company, CEZ Group spokesperson Alica Horakova told BNT on 9th of March. A full legal analysis will be carried out, after which the negotiations with the company "Inercom" will continue.

The resignation of Energy Minister Temenuzhka Petkova will not be accepted, Bulgaria's Deputy Prime Minister and Minister of Defence Krasimir Karakachanov said on 6th of March. The decision was taken yesterday at a meeting with Prime Minister Boyko Borissov, which was attended by cabinet ministers.