Romania, Hidroelectrica’s possible acquisition of CEZ Vanzare on hold

, SEE Energy News

According to unofficial sources, the plan of Romanian largest electricity producer Hidroelectrica for the acquisition of electricity distributor/supplier CEZ Vanzare has been put on hold, without providing any details regarding the reason for such decision.

This decision comes as a surprise, since Hidroelectrica’s Supervisory Board has already cleared the bid for the acquisition of CEZ Vanzare, all it needed was the approval from the shareholders.

Australian investment fund Macquarie Infrastructure and Real Assets (MIRA), which bought the Romanian assets of Czech energy company CEZ, said earlier this year that it is considering the sale of CAZ Vanzare, mainly due to financial pressures generated by the “cap and subsidy” schemes enforced by the Romanian Government. At the time of the acquisition in 2020, MIRA evaluated the supplier at 15 million euros.