European Commission approves the sale of CEZ assets in Romania to Macquarie

by Romanian Reporter - Tuesday, January 5, 2021 4:15 PM

European Commission approves the sale of CEZ assets in Romania to Macquarie

The transaction between the Czech group CEZ and Macquarie Infrastructure and Real Assets ("MIRA") concerning the acquisition of CEZ's assets in Romania was approved by the European Commission. To be completed, the deal needs also the approval of the Supreme Council for National Defense (CSAT).

The sale of Romanian assets to MIRA was decided by CEZ back in October and was pending the European Commission (announced yesterday) and CSAT approvals. There are 7 businesses included in the transaction: Distributie Energie Oltenia, Ovidiu Development, Tomis Team, MW Team Invest, CEZ Vanzare, TMK Hydroenergy Power, and CEZ Romania.

CEZ is thus selling its electricity distribution and supply networks and the largest onshore wind farm in Europe (Fantanele - Cogealac, north of Constanta, 17 kilometers west from the Black Sea), with an installed capacity of 600 MW, surpassing the 539 MW Whitelee Wind Farm in Scotland.

Once the deal is finalized, CEZ will remain active in the Romanian market, focusing its activities on energy trading (CEZ Trade) and energy services (High-Tech Clima).

MIRA is part of Macquarie Asset Management, the asset management branch of Macquarie Group, a diversified financial group listed on the Australian stock exchange (ASX - ticker: MQG), a financial services provider of banking, financial, advisory, investment, and funds management services It was founded in 1969 in Australia and has over 15.800 employees.

As of March 2020, MIRA is managing assets valued at approximately €120 billion, including 151 portfolio companies, 500 real estate properties, and 4.8 million hectares of arable land. The CEZ assets will be included in the investment fund Macquarie European Infrastructure Fund 6 (MEIF6).

The Australian group is present indirectly in the Romanian market since 2018 when they acquired the German real estate asset manager GLL Real Estate Partners, which owned also several important office buildings in Bucharest.

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Photo: CEZ Romania / Facebook

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