October 23, 2020 08:32 
ČEZ Group has approved the sale of its assets in Romania to funds managed by Macquarie Infrastructure and Real Assets (“MIRA”). The assets consist of 7 companies, including the electricity distribution network, electricity supply and the largest onshore wind farm in Europe from Fântânele - Cogealac. CEZ remains active in Romania, developing its energy services portfolio. The transaction documents were signed toon October 23, 2020. The conclusion of the transaction will be subject to the approval of the European Antitrust Authority and the Supreme Council of National Defense of Romania.
RTPR assisted MIRA in this transaction, with Costin Taracila, Managing Partner at the helm of the legal team. ČEZ Group was assisted on the romanian legal matters by Ţuca Zbârcea & Asociaţii.
The sale of CEZ assets from Romania to the funds managed by MIRA was approved by the Council of CEZ Group only 13 months after the start of the sale process. CEZ Group and MIRA have reached a sales agreement that covers all 3 business segments included in the transaction: electricity distribution, energy supply and the renewable energy operational portfolio. The 7 companies targeted by the transaction are: Distributie Energie Oltenia, Ovidiu Development, Tomis Team, MW Team Invest, CEZ Vânzare, TMK Hydroenergy Power and CEZ Romania. CEZ Group remains active in Romania, focusing on energy trading (CEZ Trade) and energy services (High-Tech Climate).
MIRA is the largest infrastructure manager in the world and is part of the Macquarie Group, a top 10 Australian company in terms of market capitalization. MIRA is a long-term investor with extensive experience in managing essential electricity infrastructure worldwide. Its investment portfolio currently includes 12.4 GW of renewable energy capacity and electricity distribution networks in Australia, Austria, Finland, Spain and the United States.
Interest in CEZ assets was high. Despite the difficulties brought by COVID-19, CEZ and Société Générale maintained a high level of competitiveness in this transaction. MIRA has submitted the most attractive offer, as confirmed by independent specialized opinions. The transaction must be approved by the European Directorate-General for Competition and the Supreme Council of National Defense (CSAT).
Société Générale (together with the group of companies Komerční banka and BRD - Groupe Société Générale) was the Exclusive Financial Advisor of CEZ Group during this process. The transfer of assets from Romania is part of the new strategy of the CEZ Group to withdraw its selected assets from certain countries. Following the strategy approved at the General Meeting of Shareholders, CEZ Group is in the process of selling its assets in Bulgaria and Poland as well.
