27. 10. 2009

CEZ submitted a bid on share in the ENSO company

CEZ, the Power Company has submitted a bid on an acquisition of 21.281% share in the German company ENSO Energie Sachsen Ost AG of the Vattenfall Europe AG company. Details of the bid will not be published.

The line of business of ENSO are supplies of electric power, gas and heat. ENSO serves approximately 400 thousand customers with electric power and approximately 95 thousand customers with natural gas. Over 50% of the ENSO company is owned by the GESO company. CEZ submitted a bid on 100% share in this company on 23 October 2009.

The GESO company annually serves 905 thousand customers with 10.5 TWh of electric power and 11.4 TWh of gas. Possible acquisition of both companies (GESO and ENSO) would strengthen the position of CEZ in the region where it already owns 50 % of MIBRAG, the mining and power company. What is more, both companies run business in the area which directly links to the distribution territory of the CEZ Group in the Czech Republic.