E-ON stake in Bulgaria sold to Czech group Energy Pro

Bulgaria's Commission on Protection of Competition said it has approved the sale of the majority stake in E.ON's Bulgarian subsidiary to Czech energy group Energo-Pro.

Energo-Pro has no other major assets in Bulgaria and its acquisition of E.ON's electricity distribution business in northern and northeastern Bulgaria would not adversely affect competition, the regulator said. The Czech group also owns eight small hydro-power plants in the country.


E.ON agreed the sale of its Bulgarian unit in December, for a price of 133 million euro. In 2004, the German utility paid 140.7 million euro for a combined 67 per cent stake in the power distribution companies headquartered in Varna and Gorna Oryahovitsa, merging them to create E.ON Bulgaria.


E.ON Bulgaria, based in Varna, operates a distribution network of about 42 000 km in northeastern Bulgaria. In 2010, the utility delivered about 5.3 billion kWh of electricity, according to the company's data.

Source: SofiaEcho