The State-owned Czech power transmission system operator (TSO) ČEPS has completed the acquisition of NET4GAS Holdings, which holds the exclusive license for natural gas transportation in Czechia, for CZK5bn (€204m). The acquisition received regulatory approval from the Office for the Protection of Economic Competition and the Directorate General for Economic Competition (DG COMP) of the European Commission. ČEPS will become the operator of electricity and gas transport systems in Czechia.
The agreed purchase price consists of two parts. The first part in the amount of CZK3bn (€122m) was paid after the signing of the transfer contracts, while ČEPS will pay the second part in two installments, up to a maximum of CZK2bn (€82m), if the economic performance parameters of NET4GAS are met.
NET4GAS Holdings wholly owns NET4GAS and BRAWA. NET4GAS operates almost 4,000 km of gas pipelines, three border transfer stations, five compression stations and a hundred transfer stations at the interface with national gas distribution. BRAWA owns the Gazela gas pipeline, which connects Germany and runs through Czech territory from the North Bohemian crossing of Brandov to Bavaria.