CEZ sells stake in new Romanian units

Wednesday, 5 January 2011 Czech energy company CEZ has completed the sale of its 9.15% share of, EnergoNuclear the company developing the Cernavoda nuclear power plant in Romania, so that it can concentrate on investment at home. The shares in the project were sold at nominal value – the same amount as was originally paid – to Romanian state owned Nuclearelectrica, boosting its majority ownership of EnergoNuclear from 51% to about 60%. In a statement about the pending sale made in September 2010, CEZ said, "The decision is in line with the announced plan of the CEZ Group to focus on investment in the Czech Republic and consolidate and develop its existing assets abroad." CEZ has firm plans to build at least two reactors in Czech Republic, most likely at the existing Temelin nuclear power plant site.