Morrison & Foerster is representing EuroHold Bulgaria AD (EuroHold Bulgaria) in its €355 million acquisition of the Bulgarian power distribution/renewable energy business of Czech utility company ČEZ. EuroHold Bulgaria is one of the leading public companies in Bulgaria. Through its subsidiaries, it engages in financial services, leasing, insurance, and car sales businesses. ČEZ Bulgaria’s power distribution arm services Western Bulgaria, including capital city Sofia.
The acquisition is EuroHold Bulgaria’s first acquisition of a power distribution business and part of the company’s long-term strategy to enter new regulated business segments with sustainable high growth potential. Completion of the acquisition is pending approval from Bulgaria’s antitrust authority and energy regulator.
The MoFo London deal team is led on the corporate side by partner Gary Brown and associate Carlo Pia.
Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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