Australian group Macquarie Infrastructure and Real Assets (MIRA) could complete the takeover of Czech group CEZ's assets in Romania in the first half of next year, after obtaining approvals from the competition authority in Brussels and Romania's Supreme Council of National Defense (CSAT), Ondrej Safar, general manager of CEZ Romania said on Wednesday, November 25.

"As we have already informed, the contract was signed on October 22. Now, we are in the procedure of obtaining the approval for the transaction from the European competition authority, with the participation of the Romanian competition authority, and from CSAT," said Safar, quoted by Agerpres.

He noted that all these procedures are ongoing.

"Realistic expectations are for the first half of next year," the CEZ official added.

CEZ Group has approved the sale of its assets in Romania to funds managed by Macquarie Infrastructure and Real Assets (MIRA), the company announced on October 23.

Among the other bids, there was one placed by the Romanian state companies Hidroelectrica, Electrica, and SAPE, as part of a consortium.

The assets involved in the transaction consist of seven companies, including the company that manages the electricity distribution network in Romania's Oltenia region, an electricity supply company, and the largest onshore wind farm in Europe, located near the Fantanele - Cogealac villages in Dobrogea, Eastern Romania.

The value of the deal is estimated at over EUR 1 bln.

(Photo: CEZ Romania Facebook Page)

andrei@romania-insider.com