Eastern European Electric Company B.V., completed the acquisition of remaining 33% stake in CEZ Electro Bulgaria AD.
In a related transaction, Eastern European Electric Company B.V., also made a tender offer to acquire the remaining 33% stake in CEZ Distribution for BGN 176.2 million on August 4, 2021. As of September 30, 2021, Eastern European Electric Company B.V., has submitted a corrected offer of BGN 26,904 per share for a total of BGN 44.4 million. As a result of the transaction of the transaction, stake of Eastern European Electric Company B.V., in CEZ Electro Bulgaria AD shall increase from 67% to 100%.
The Financial Supervision Commission has not yet expressed its opinion on the public tender offers. As on October 12, 2021, transaction is approved by the financial regulator. Eurohold Bulgaria also said that EEEC expects to complete the acquisition of the respective stakes in the two companies by the end of November.
Eastern European Electric Company B.V., completed the acquisition of remaining 33% stake in CEZ Electro Bulgaria AD (BUL:CEZE) for BGN 43.2 million on August 4, 2021.