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CEZ Power company is selling its share in Prazska energetika

10. 5. 2004

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CEZ Power company is selling its share in Prazska energetika

The CEZ Power Companyi has today announced in the HospodaĹ™skĂ© noviny a one-round tender for a sale of its share in Prazska energetika, a.s. (PRE)ii.

The main selection criterion of the tender winner will be the amount of the purchase prise. The assignee of the PRE share will, however, have to establish meeting other requirements stated by a resolution of Urad pro ocharanu hospodarske souteze ( UOHS, Office of fair trading) CEZ gained the PRE share representing 34 % of the voting rights from the FNM CR(National Property Fund of the Czech Republic) in 2003 together with shares in other regional distributional companies. Under the UOHS resolution dated March  18, 2003, CEZ is obligated to sell its share in PRE. CA IB Corporate Finance a.s.iii is a consultant for CEZ regarding organization and administration of the tender.

 

  1. CEZ, a. s. is a company whose principal business is generation, purchase and sale of electrical energy. The majority owner of CEZ, a.s. is the National Property Fund of the Czech republic. Besides CEZ, the CEZ Group consists of other companies engaged in electricity production, its distribution and trade, as well as companies providing supporting services.  The CEZ Group had over 18 thousand employees at the end of 2003. In 2003 it reached 79.5 billion of consolidated power sale revenues and 5.9 billion of consolidated net profit. Further information about the company is available on www.cez.cz

  2. Prazska energetika, a.s. is a regional operator of the distributional system in Prague and the town of Roztoky and an important electricity trader on the wholesale market in the Czech Republic. Its majority shareholder is PRE Holding a.s. In 2003 Prazska energetika, a.s. reached, according to audited data, electricity sale revenues in the amount of about 10.17 billion and net profit of about 1.07 billion. Further information about the company is available on www.pre.cz

  3. CA IB Corporate Finance a.s. is an investment bank of the Austrian Bank Austia Creditanstalt, which comes under the HVB Group. The CA IB Group has a network of 13 offices in the countries of the Central and Eastern Europe. It has been on the Czech market since 1991; in the last seven years, the Prague CA IB team has settled more than 35 transactions in the volume exceeding the amount of 70 billion. Last year the CA IB provided successful consultancy, for example, to the syndicate of investors during the acquisition of a 96.52 % share in PVT, a.s., the largest Czech system integrator. Further information about the company is available on  www.ca-ib.cz