CEZ Reaches 100 Million-Euro Settlement With Albanian Government
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CEZ AS, the Czech Republic’s largest power producer, agreed with the Albanian government to settle a dispute over the revocation of its distribution license in the country last year.
Albania will pay CEZ 100 million euros ($136 million) by 2018 in yearly installments, an amount roughly equal to CEZ’s initial investment, the Prague-based company said today in an e-mailed statement. The agreement must be approved by Albania’s government and ratified by the parliament, CEZ said.