Bulgaria’s competition regulator blocks Eurohold's bid to CEZ

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

Bulgaria’s competition regulator has moved to block the bid of the insurance and financial group Eurohold’s 4EH.BB to acquire the Bulgarian assets of Czech utility CEZ for a total consideration of EUR335 million (US$371.07 million).

The moved is after the launched in-depth inquiry into the deal saying that it could hinder competition on the energy and the insurance markets in the Balkan country.

Eurohold controls significant share in the insurance guarantees market while some of CEZ’s Bulgarian companies are involved in active energy trade, which requires bank and insurance guarantees.

The decision can still be appealed to the court. 

List of the country updates

Country updates

  • September 25, 2019

    Bulgaria is set to terminate PPA deal with Maritsa 3 coal-fired project

    The Government of Bulgaria is set to terminate the power purchase agreement (PPA) deal forged with ContourGlobal for its 908 MW Maritsa East 3 coal-fired power plant.  The 15-year PPA...

    Read more
  • August 30, 2019

    EOIs in for 2 GW Belene nuclear power plant project in Bulgaria

    The Bulgarian Government has received a total of seven expressions of interest for the 2GW Belene nuclear power plant. The seven companies that submitted proposals are interested in becoming a st...

    Read more
  • August 27, 2019

    Monbat to acquire 66.66% of STC

    Monbat, a car battery maker, has announced that its board has approved the acquisition of a 66.66% stake in Italian engineering company Science Technology & Consulting (STC) for an undisclosed pri...

    Read more
  • July 29, 2019

    Total Eren closes 650 MW acquisition facility in Europe

    Total Eren has announced the closing of the Novenergia transaction, which involves the acquisition of more than 650 MW of renewable assets across Europe and raising of a EUR250 million (US$281 million...

    Read more
  • June 27, 2019

    Eurohold signs deal to acquire Bulgarian assets of CEZ Group

    Eurohold has entered into an agreement to acquire the Bulgarian assets of Czech utility CEZ for EUR335 million (US$377.9 million).  CEZ Group’s assets in Bulgaria include a power util...

    Read more

Share this update