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CEZ Power Company is selling its share in Prazska energetika to the J & T Group

22. 7. 2004

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CEZ Power Company is selling its share in Prazska energetika to the J & T Group

The management of CEZ Power Company has approved the order of the one-round tender for the sale of the share in Prazska energetika, a.s. (PRE) as it has been submitted by the organization and control advisor for the tender, CA IB Corporate Finance, a. s.

The only criterion of the tender winner was the amount of the offered purchase price. J & T Investment Advisors submitted the highest offer out of the 4 parties concerned. As this is the last important share in the Czech distribution which is offered to sale, the selling price has reached the amount of 4.4 billion CZK.  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 obliged to sell its share in PRE.

Ladislav Kriz, Press Officer, CEZ, a. s.