CEZ agreed with Romanian govermnent on adjusting of the Electrica Oltenia price

The Romanian government agreed with CEZ’s adjusting the price it paid for the Electrica Oltenia, distribution company. Note that CEZ signed an agreement earlier in April to purchase a 24.62% stake in the company for EUR 47.4m and increase its capital by another EUR 103.6m to achieve a 51% holding. The price adjustment should reflect minor changes in net assets between end-2003 and the date of the share transfer. The new price was not published.

Separately, Bulgaria asked Skoda Praha (100% owned by CEZ) and Russian Atomstojexport to submit their final bids for the construction of two blocks of the Belene nuclear power plant worth EUR 3.5bn .