National Property Fund of Slovakia cancelled planned sale of 51% stakes in heating plants there. CEZ was one of the bidders for Teplaren Kosice, which is the largest producer and distributor of heat in the form of hot water and steam in the Slovak centralized supply system. Installed heating capacity is 875 MW and electric capacity is 121 MW.
Our view:
Cancelling the sale of heating plants after similar steps that new government took with other assets for sale is not surprising. CEZ didn’t have any exclusivity in talks to acquire Teplaren Kosice so we would see this as neutral at the moment.