Back
CEZ Group
...
Media Press releases
Settlement agreement with Dalkia France

9. 12. 2004

Others

Settlement agreement with Dalkia France

On December 7, 2004, a settlement agreement between CEZ Power Company and Dalkia France (and Dalkia International) was signed. At the same time, a mutual agreement of termination of arbitration, which had been filed at the International Chamber of Commerce in Paris after an appeal of Dalkia France, was concluded. Dalkia France assessed the losses resulting from non-performance of the business plan of the joint-venture with CEZ at 25 million USD. The agreement about this business plan was concluded in December 1999.

The possible losses, which would affect CEZ in case of  failure in the arbitration, have thus been averted. The final settlement is in the low third range of possible losses. Ladislav Kriz, Press Officer, CEZ, a.s.