Money Buzz! Europa

Tag: Eurohold

  • Eurohold to issue new shares on the Bulgarian Stock Exchange

    Eurohold to issue new shares on the Bulgarian Stock Exchange

    Eurohold wants to increase its working capital by issuing new shares on the Bulgarian Stock Exchange, to obtain up to 100 million euros funds.

    Funds will be used to finance the acquisition of CEZ Group subsidiaries in Bulgaria.

    The funds raised will be used to finance the acquisition of CEZ Group’s Bulgarian subsidiaries and to invest in the development of the group’s two main businesses – energy and insurance, said Vasil Stefanov, Eurohold’s director of development.

    Eurohold will offer for subscription more than 79 million new shares, with a nominal value and a price of 1 lev and 2.50 lev.

    The public offer will be considered successful if at least 40% of the new shares (31.6 million shares) are subscribed and paid.

    Earlier this year, Eurohold received the latest approvals to take over seven subsidiaries of the CEZ group in Bulgaria, including 67% of the largest electricity company, CEZ Distribution Bulgaria.

  • Eurohold to acquire the subsidiaries of CEZ Group in Bulgaria

    Eurohold to acquire the subsidiaries of CEZ Group in Bulgaria

    The Bulgarian Energy and Water Regulatory Commission (EWRC) granted approval to Eurohold Bulgaria for the acquisition of the Czech energy company CEZ Group’s subsidiaries in the country.

    The deal includes 67% of the power utility CEZ Distribution Bulgaria and the power supplier CEZ Electro Bulgaria, as well as 100% of the shares of the licensed electricity trader CEZ Trade Bulgaria, IT services company CEZ ICT Bulgaria, solar park Free Energy Project Oreshetz, biomass-fired power plant Bara Group and CEZ Bulgaria that coordinates and manages all CEZ Group’s subsidiaries in Bulgaria.

    Eurohold will acquire CEZ Group’s business in Bulgaria through its subsidiary and specially set up Eastern European Electric Company B.V. (EEEC).

    The next stage in the acquisition process will be to sign financing agreements and transfer of the shares.

    Eurohold will finance the acquisition through a combination of equity and borrowed capital provided by leading global investment banks.