On June 29 CEZ took over two Polish power plants Elcho and Skawina from PSEG. According to company’s news from late May, CEZ acquired 89% stake in Elcho for EUR 202.5m and 75% stake in Skawina for EUR 180.8m.
Our view:
We see the news as neutral, as this is only formal conclusion of the acquisition. CEZ will thus consolidate acquired assets already in 2Q figures scheduled on August 15.