Power Supply Company CEZ Sold its Business to Inercom Bulgaria

Czech state-owned company CEZ sold the electricity supplier in Western Bulgaria to the Bulgarian company "Inercom Bulgaria", the company said on 22nf of February.

The deal was approved by the company's supervisory board today. However, to become effective, it should be approved by the Commission for the Protection of Competition, the Financial Supervision Commission and the Energy and Water Regulatory Commission. No price was reported, but according to BNT sources, it amounts to more than 600 million BGN.

A reference in the recirds of the Commercial Register shows that the Bulgarian company was registered with BGN 50,000 capital, and its manager and owner is Ginka Varbakova. The company was set up in late 2017.

According to Deputy Speaker of Parliament's Energy Committee Valentin Nikolov, Inercom will buy CEZ with the help of a large Slovak company. He also assured that the State Agency for National Security will start investigation into the possible buyers because of the importance of the power supply company.