President Urges Institutions to Guarantee Energy Interests of Public and State

Sofia, February 26 (BTA) - President Rumen Radev expressed concern over what he said was insufficient information and transparency of the acquisition of the assets of one of the largest companies in the strategic energy sector, his press secretariat said Monday.

Meeting with Ivan Ivanov, Chair of the Energy and Water Regulatory Commission, Radev discussed the acquisition of CEZ Group's Bulgarian business by Inercom Bulgaria and the regulator's responsibilities under the Energy Act.

The President stated that the Bulgarian institutions must guarantee that the public and the State interest are protected in that case.

On February 22, Inercom Bulgaria, based in the southern town of Pazardjik, bought the package of seven CEZ companies for 320 million euro. The transaction will be notified to the Bulgarian Competition Protection Commission for its approval and will only be closed thereafter.

Meanwhile, Prime Minister Boyko Borissov tasked the State Agency for National Security and the National Revenue Agency to run a thorough check both on the deal and on the Bulgarian buyer.

CEZ Distribution Bulgaria supplies electricity to nearly 3 million customers in Western Bulgaria, including the capital.

Source: Sofia