Czech utilities group CEZ has received preliminary financial offers evaluating its Romanian operations at EUR 1.1-1.3 bln, Ziarul Financiar announced.

Based on the preliminary offers received during the “market testing” stage, the group could decide if it moves forward with the sale of its local business that consists of energy distribution, supply, and wind farms.

CEZ has set a first deadline at the end of March to evaluate the final financial offers and give an answer to the investors, according to sources quoted by Ziarul Financiar.

According to the same sources, Romanian state-owned power producer Hidroelectrica “is in poll position” to get the assets it wants namely the wind farms and the power supply. Electrica, which is 49% controlled by the Romanian state, wants to buy CEZ’s energy distribution in the Oltenia region, but its preliminary financial offer is reportedly below expectations. German group E.ON has reportedly submitted the best bid for the distribution business, the sources said.

A key issue is whether Hidroelectrica and Electrica can obtain the necessary approval from the Ministry of Economy and Energy in due time for submitting the final financial offers, Ziarul Financiar daily comments.

editor@romania-insider.com

(Photo source: Facebook/CEZ Romania)