Czech utility ČEZ reportedly plans sell-off of some foreign assets

27-05-2019

Czech state-controlled power utility ČEZ reportedly plans to sell its assets in Romania and Turkey, in addition to a previously reported plans to divest from Bulgaria.

ČEZ chief Daniel Beneš said in an interview with the business daily Hospodářské noviny that the group is also considering selling some assets in Poland. In total, the Prague-listed company hopes to get tens of billions of crowns from the sales.

Shareholders in ČEZ, which is 70 percent owned by the state, would vote on the new strategy at the annual general meeting on June 26, he told the daily.

Proceeds would be used to construct renewable energy assets and new nuclear units as well as to the modernize ČEZ’s distribution network, he said.