Romania: Acquisition of CEZ’ assets completed, SEE Energy News
In October 2020, CEZ announced that it has reached an agreement to sell its Romanian assets to funds managed by Macquarie Infrastructure and Real Assets (MIRA). An investment fund Macquarie Infrastructure and Real Assets (MIRA) has completed the acquisition of the Romanian assets of Czech energy company CEZ. Director of MIRA EMEA Leigh Harrison said that stronger and more sustainable energy infrastructure is needed to facilitate Romania’s growing electrification and its transition to a low-carbon economy. The business in the field of essential infrastructure in this portfolio will play an important role in transforming the energy system in Romania, and MIRA looks forward to getting involved in its continuous development.
The divestment of selected Romanian assets is part of CEZ Group´s new strategy to divest chosen assets in certain countries. By selling Romanian assets, CEZ will increase its debt capacity and will be able to channel resources into investments in line with the current strategy, which is focused on decarbonizing the production portfolio, developing renewable energy and providing modern energy services in the Czech Republic and across Europe. In January 2021, the European Commission has approved the sale. CEZ’ assets in Romania comprise of seven companies, including electricity distribution networks, electricity and gas supplier and the Fantanele Cogealac wind farm. The sale of CEZ assets in Romania to funds managed by MIRA was approved by CEZ Group’s bodies just 13 months after the transaction process’ kick-off. CEZ Group and MIRA have reached an agreement on the sale of all three business segments that were included in the transaction: electricity distribution, energy supply and an operational renewable energy portfolio. CEZ Group remains active in Romania, focusing on its trading (CEZ Trade Romania) and energy services business (High-Tech Clima). Societe Generale (together with its group companies Komercni banka and BRD) acted as Exclusive Financial Advisor to the CEZ Group on the sale.
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