The company that manages the Romanian state’s minority stakes in former state energy companies privatized to foreign investors - SAPE has submitted a non-binding offer to purchase the assets of Czech utility group CEZ in Romania, according to unofficial sources quoted by Economica.net.

The bidders are held by confidentiality agreements signed with CEZ from disclosing their interest in the auction.

SAPE reportedly submitted a non-binding offer on Monday, December 2, according to Economica’s sources.

If SAPE’s offer is accepted, then it will enter into the next phase of negotiations with the Czech group.

The Romanian state company has reportedly submitted offers for each of the assets CEZ has put up for sale, in various combinations, according to the same sources.

CEZ announced this fall that it was selling its electricity distribution company, which covers the southern Romania region of Oltenia, the wind farms in Dobrogea (about 600 MW, the largest land wind farm in Europe), the electricity supply company, which serves 1.4 million customers, and the micro-hydro power plants in Reșița area (four of them, with a cumulative installed power of 22 MW).

CEZ published the sale announcement on September 9. More than 30 potential buyers have expressed interest in buying the assets, the Czech group announced on November 12.

(Photo: CEZ Romania Facebook Page)

editor@romania-insider.com