Hidroelectrica set to acquire CEZ Romania

by   CIJ News iDesk V
2020-06-24   09:16
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Hidroelectrica is asking its shareholders to approve its acquisition of CEZ’s Romanian assets. The Romanian government owns a 80 percent share of Hidroelectrica,while Property Fund is the other shareholder. CEZ is planning to exit Romania to focus on the development of nuclear power plants in the Czech Republic. If given the greenlight, Hidroelectrica would conclude one of the largest energy transactions in Romania in recent years, worth about €1bn. The company also requested the approval of an acquisition loan in order to diversify its portfolio. At the end of March, Hidroelectrica's net liquidity was RON 2.34bn.