CEZ apparently upped its offer price for the Varna assets by E14 million to E339.2 million, while also increasing the amount it has pledged to invest in the company.
Veneta Nacheva, a spokeswoman for the Bulgarian privatization agency, told Reuters that, the acquisition talks with CEZ have ended and we have agreed a better price. The draft contract will be signed soon.
We have also agreed additional investment of E40 million that will be put in an investment fund for financing energy projects in Bulgaria, she added.
The deal for the 1,260MW station will bolster CEZ’s position as the largest power distributor in Bulgaria, and marks another stage in its strategy to become the leading energy player in the central European region.
The firm is currently engaged in efforts to purchase other assets in Bosnia and Macedonia, among other places.
