Power company CEZ has submitted a bid for 100% share in the German company GESO. Details of the bid will not be published.
Main activities of GESO Beteiligungs- und Beratungs- Aktiengesellschaft are supplies of electric power, natural gas, water, heat and other related services to companies and end customers around Dresden, which is a distribution territory directly adjacent to the distribution territory of CEZ Distribution in the Czech Republic. GESO annually serves 905 thousand customers with 10.5 TWh of electric power and 11.4 TWh of gas. Possible acquisition would strengthen the position of CEZ in the region where it already owns 50 % of MIBRAG, the mining and power company.