June 26, 2018 / 3:51 PM / a year ago

Solar firm Inercom seeks approval to buy CEZ's Bulgarian assets

SOFIA (Reuters) - Bulgaria’s small solar energy producer Inercom has sought regulatory approval to buy the Bulgarian assets of Czech utility CEZ (CEZP.PR), the country’s anti-monopoly commission said.

CEZ signed a contract in February to sell a power distributor that provides electricity to more than three million Bulgarians, together with other assets in Bulgaria, to Inercom.

The deal, estimated to be worth about 320 million euros ($374 million), has prompted concerns across the political spectrum in Bulgaria that strategic energy assets were passing into the hands of owners which little was known about.

The Commission for Protection of Competition opened a case into the deal on Tuesday and said it would come out with a decision after an overall assessment.

Reporting by Tsvetelia Tsolova; Editing by Alexander Smith

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