The European Commission has cleared the sale of Romanian assets estimated at one billion Euro billion by Czech utility group CEZ to Australia’s Macquarie Infrastructure and Real Assets (MIRA).

The deal needs approval from Romania’s National Defense Council (CSAT) before completion.

CEZ Group signed last October the sale of most of its assets in Romania to funds managed by Macquarie.

The Czech group will sell seven companies with operations in electricity distribution, electricity supply, and power generation (the largest onshore wind farm in Europe located at Fantanele – Cogealac).

Following the transaction completion, CEZ Group will remain active in Romania, focusing on energy trading (CEZ Trade) and energy services (High-Tech Climate).

Among the other bids for CEZ’s Romanian assets, one was placed by the Romanian state companies Hidroelectrica, Electrica, and SAPE, as part of a consortium.

Via Romania Insider