TOP Analysis, Prognoses and News about Greek - Albanian Relations and the Region.
Thursday, January 10, 2013
CEZ announces sale 10/01/2013
Despite the warnings from the Ministry of Economy, CEZ, the Czech
Company that owns the energy distribution network in Albania has started
the procedures for expanding the business in Albania.
Two days ago CEZ published on
the prestigious financial times an invitation to express the interest
of possible investors who want to by their shares. The announcement says
that CEZ is considering to sell 76% of the shares and invites buyers to
bid within January 15th.
According to the announcement, the
investors must present detailed information about the consortium
companies and other activities of the businesses they own, the financial
guarantees for the possible purchase of CEZ and any concern or
uncertainty that they might have regarding the process. After this
initial phase will be over, CEZ announces that they will inform the
interested companies for the further steps. After the long conflict with
the Albanian government, CEZ warned that they will sell their activity
But right after this declaration, the Ministry of Economy
declared that they will not allow the sale, since it is considered an
illegal move for as long that the company has not notified the state and
the license is under review by the ERE. But despite this warning, the
Czech group seems determined to sell the shares by taking the first step
of the process.