Czech utility CEZ a. s. has started testing market interest for its Romanian assets with the help of its exclusive investment adviser Société Générale.
The company has included Energy Distribution Oltenia, Ovidiu Development Srl, Tomis Team Srl, MW Team Invest, CEZ Vanzare SA, TMK Hydroenergy Power SRL and CEZ Romania among those businesses available to be spun off, according to a Sept. 9 news release. Investors may express their interest for individual companies or the entire bulk.
The Romanian assets have generated positive EBITDA and regularly contribute to the utility's dividend, CEZ said. The planned divestment is part of CEZ's wider Southern European exit.
