EuroHold to Acquire CEZ Bulgaria

Bulgarian holding company EuroHold has signed a deal to acquire the Bulgarian assets of Czech utility CEZ for €335 million ($377.9 million).

Morrison & Foerster in London is representing EuroHold, led on the corporate side by Partner Gary Brown and Associate Carlo Pia, and led on the finance side by Partner Christopher Kandel and Counsel John Burge. Stoeva, Tchompalov & Znepolski (STZ), led by Partners Iordan Tchompalov and Irina Stoeva, and Senior Associate Miroslava Iordanova, is advising EuroHold on Bulgarian legal matters. CEZ is represented by Czech firm Skils s.r.o, with a team led by Partners Karel Dřevínek and Vladimír Kykal, and Associate Tomáš Bayer. Penkov, Markov & Partners, led by Partner Ivan Markov, is advising CEZ on Bulgarian legal matters.

In addition to conducting legal due diligence of the target companies and advising, from Bulgarian perspective, on the share purchase agreement, STZ advises EuroHold on all necessary corporate and regulatory approvals and the mandatory tender offer requirements in relation to the transaction, as well as on certain matters related to the overall structure and financing of the acquisition.

EuroHold’s acquisition of CEZ Group’s assets in Bulgaria is expected to be finalised after obtaining regulatory approvals.

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