Heating plant in Varna, Bulgaria will be sold to French Dalkia International for EUR 6.78m.
Our view: The outcome bas been more or less expected as the last week news revealed that CEZ submitted only third best bid of EUR 4.56m and its chances reduced. There was still some hope that price was not the only condition in selection process. It is obvious that CEZ won’t be able to come out of each tender as a winner; moreover it is more important CEZ succeeds in more relevant projects like one in Bosnia or Ukraine.