Eurohold said that it has decided to delist its electricity supply and distribution subsidiaries Electrohold Sales and Electrodistribution Grid West (EDG West) from the Bulgarian Stock Exchange, following the acquisition of 100 % ownership.
Trading in these shares were suspended since 9 September, when Eastern European Electric Company (EEEC), acquired full ownership of Electrohold Sales and Electrodistribution Grid West, former subsidiaries of Czech energy company CEZ, following the share buyout campaign launched in August.
Under the transaction, EEEC purchased the remaining 14,416 shares of Electrodistribution Grid West at a price of 155.15 euros per share or a total of some 2.2 million euros. The remaining 117 shares of Electrohold Sales were acquired at 14,905 euros per share, representing a sum of 1.75 million euros.
In late April, the shareholders of Eurohold Bulgaria have approved the decision on the rebranding of the Bulgarian businesses of Czech utility group CEZ which were acquired last year. The shareholders of electricity distributor CEZ Distribution Bulgaria approved the change of the company’s name to Electrodistribution Grid West, while the shareholders of electricity supplier CEZ Electro Bulgaria approved a change to Electrohold Sales.