The Czech state-owned power utility ČEZ has completed the sale of its Bulgarian assets to the financial group Eurohold for a total consideration of €335m. The sale includes seven Bulgarian companies, namely CEZ Bulgaria (holding company), CEZ Elektro Bulgaria (electricity supply and distribution around Sofia and Pleven), CEZ Razpredelenie Bulgaria (electricity distribution), CEZ Trade Bulgaria (electricity sales and trade), CEZ ICT Bulgaria, Free Energy Project Oreshets and Bara Group. The sale agreement was signed in June 2019 and had to be approved by the Bulgarian Competition Authority and the Bulgarian Energy and Water Regulatory Commission, and previous divestment attempts had been blocked in 2018 and 2019.
ČEZ controlled the distribution companies of western Bulgaria, including the Sofia region. It acquired 67% of the public stake in 2004 and renamed the company ČEZ Razpredelenie Bulgaria. In 2020, it distributed 9.4 TWh (around 40% of the electricity distributed) and sold 10.4 TWh to about 2.2 million customers.