Inercom Bulgaria divests PV assets to win approval for deal with CEZ
The owner of Bulgaria’s family-owned Inercom Group, Ginka Varbakova, has divested several assets in photovoltaic power operations in order to save the deal with Czech CEZ's Bulgarian assets.
Varbakova has decided to restructure her assets and left five firms to meet the requirement set by competition watchdog (CPC) for the solar PV deal after several controversies hounded the deal.
In Bulgaria, CEZ operates an electricity distribution business with 2mn customers, a retail electricity supplier, and a wholesale trader.
Country updates
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March 09, 2018
The government of Bulgaria has requested a controlling stake in the assets to be sold, given the doubt across the political and public sphere of Inercom's ability to handle them
The government of Bulgaria has requested a controlling stake in the assets to be sold, given the doubt across the political and public sphere of Inercom's ability to handle them. CEZ has announced that it has agreed with Inercom to study the possibility of the Bulgarian state taking a stake in the assets
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March 01, 2018
Black Toro Capital has launched the stakes acquisition agreement with Ebioss Energy
Black Toro Capital has launched the stakes acquisition agreement with Ebioss Energy. The two companies are expected to confirm the deal within 90 days
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February 26, 2018
The Energy Minister of Bulgaria has resigned due to her links with Inercom
The Energy Minister of Bulgaria has resigned due to her links with Inercom. The Prime Minister has stated publicly that the government did not influence the deal in any way, and that the country’s energy, financial and anti-trust regulators, as well as the intelligence services, would look closely into the deal, including the origin of the funds for the transaction
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February 23, 2018
CEZ has signed a deal to sell its Bulgarian asset to Inercom
CEZ has signed a deal to sell its Bulgarian asset to Inercom. This has raised concerns among lawmakers across political parties in Bulgaria about the ability of the little-known company with allegedly little capital to take over CEZ's operations
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February 05, 2018
Alfa Finance Holding has finalized the 97.56% of stakes buyout bid in SolarPro Holdings
