CEZ will sell Škoda Praha to its subsidiary ÚJV Řež – HlídacíPes.org
The semi-state energy company ČEZ is getting rid of the pre-paid Škoda Praha, but still counts on it as an important part of the future construction of new nuclear units. The buyer is ÚJV Řež, in which ČEZ holds an absolute share.
We are confirming the planned transaction at the inquiry of HlídacíPes.org by both the seller ČEZ and the buyer ÚJV Řež.
Up to a year
“We are talking about conditions and they should take place during this year,” says ÚJV CEO Řež Daniel Jiřička (an interview with him will be offered by HlídacíPes.org tomorrow, note, ed.). With 52.46%, the majority shareholder of the company is ČEZ.
“It is a consolidation of engineering capacities within the CEZ Group, part of which is Škoda Praha and ÚJV Řež. These will be concentrated in ÚJV Řež, with regard to the preparation of a new nuclear power plant, “says ČEZ spokesman Ladislav Kříž, adding that he expects the transaction to be completed” within a maximum of one year “.
Škoda Praha, which merged with Škoda Praha Invest at the beginning of last year, has been involved in the last five years Hospodářské noviny lost 280 million crowns, and CEZ decided to curb its activities. However, he still expects to use the know-how of the engineering company in the planned construction of new nuclear units in Dukovany or Temelín.
“That is why the whole transaction is being carried out. The goal is to concentrate engineering capacity in ÚJV Řež, which should play key engineering support for the parent company ČEZ, ie the company Elektrárny Dukovany II, during the construction of a new nuclear unit, “announce the spokesman Kříž.
Sale? The state was against it
Škoda Praha has an interesting relationship with ČEZ history. In the past, the two companies sued each other over disputed receivables arising in connection with the contract for the construction of the Temelín Nuclear Power Plant.
In 2003, the disputes ended with the capitalization of CEZ’s receivables in the amount of 700 million crowns and the actual takeover of the company, when CEZ increased its stake to almost 70%. Two years later, ČEZ completely controlled Škoda Praha.
CEZ was considering selling its daughter three years ago. Among the potential buyers were those interested in the completion of nuclear units in the Czech Republic – Russian Rosatom, Korean KEPCO, but also the Chinese engineering company Guangdong Electric Power Design Institute.
As Hospodářské noviny wrote last year, the business failed due to the disapproval of the government or the main shareholder of ČEZ – the state.
In the past, Škoda Praha has participated in the construction of approximately one hundred power plants in 25 countries around the world. It also played an important role in the construction of domestic nuclear power plants in Dukovany and Temelín.
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