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November 27, 2022
BUSINESS

CEZ wants to buy Enel SpA’s Slovak division

CEZ AS, the biggest utilities group in Eastern Europe, is interested in acquisitions this year and will bid for Enel SpA’s division in Slovakia and for Vattenfall AB’s assets in Germany, CFO Martin Novak stated for Bloomberg.

Operating in Czech Republic, Romania, Bulgaria and Poland, CEZ can make the acquisitions without endangering its investment-grade rating, Martin Novak added.

“Our growth will come through acquisitions rather than building new capacity. There are interesting assets on the market now, which may be available for an interesting price and will generate cash flow immediately,” the CEZ official explained.

Enel, which owns 66 per cent of Slovenske Elektrarne, expects to receive four binding bids in the first week of May, according to the statement made by Francesco Starace, the head of the Italian company. Enel values its assets in Slovakia at EUR 1 bln (USD 1.09 bln), Agerpres informs.

 

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