Czech Utility Giant CEZ Plans Asset Split Before Possible Buyout
Transmission towers lines near the cooling towers of a CEZ AS nuclear power plant in Dukovany, Czech Republic.
Photographer: Milan Jaros/BloombergCzech power utility CEZ AS outlined a plan to split its assets, a move that could pave the way for the government to obtain full ownership of its electricity production in a long-planned buyout.
CEZ’s board proposed a transfer of the customer segment — distribution of electricity and natural gas, trading and services — to a new subsidiary, it said in a filing, coupled with the potentially lucrative sale of a minority stake in that entity.