Today marked the formal closing of the acquisition of TEZ Plovdiv from the Bulgarian Privatisation Agency by EVN AG. The purchase price amounts to EUR 32.1m.
- TEZ Plovdiv operates a total of five heat generation facilities (one of which is a cogeneration facility) in Plovdiv and Asenovgrad.
- Total heat generation capacity amounts to 1,259 MW thermally and 85 MW electrically.
- The company supplies heating to about 40,000 customers.
- The company employs a work force of 360 people.
The EVN Group has been active in Bulgaria’s electricity supply market since 2005, as a consequence of the acquisition of two regional energy suppliers, ERP Plovdiv and ERP Stara Zagora. At present, EVN delivers electricity to about 1.5 million customers in Southeastern Bulgaria.
Peter Layr, Member of the Executive Board of EVN, stated: "The acquisition of TEZ Plovdiv represents a major challenge for the EVN Group. Following the closing of the transaction, the next step is the integration of TEZ Plovdiv in the EVN Group. Our most important targets are the implementation of improvement measures, in particular pertaining to the reliability of energy supplies as well as service quality".
Within the context of EVN’s operations in South East Europe, the purchase of TEZ Plovdiv is a significant step towards further expanding the company’s business activities in Bulgaria. Plovdiv is the largest city in the region served by EVN Bulgaria. The transaction is the first step in EVN’s development in Bulgaria from an electricity distribution company to a multi-utility provider. The synergies arising from the acquisition will be optimally exploited. These include the consolidation of administrative and technical services such as billing, management functions (i.e. accounting) as well as the construction of electricity networks and pipelines.
- TEZ Plovdiv operates a total of five heat generation facilities (one of which is a cogeneration facility) in Plovdiv and Asenovgrad.
- Total heat generation capacity amounts to 1,259 MW thermally and 85 MW electrically.
- The company supplies heating to about 40,000 customers.
- The company employs a work force of 360 people.
The EVN Group has been active in Bulgaria’s electricity supply market since 2005, as a consequence of the acquisition of two regional energy suppliers, ERP Plovdiv and ERP Stara Zagora. At present, EVN delivers electricity to about 1.5 million customers in Southeastern Bulgaria.
Peter Layr, Member of the Executive Board of EVN, stated: "The acquisition of TEZ Plovdiv represents a major challenge for the EVN Group. Following the closing of the transaction, the next step is the integration of TEZ Plovdiv in the EVN Group. Our most important targets are the implementation of improvement measures, in particular pertaining to the reliability of energy supplies as well as service quality".
Within the context of EVN’s operations in South East Europe, the purchase of TEZ Plovdiv is a significant step towards further expanding the company’s business activities in Bulgaria. Plovdiv is the largest city in the region served by EVN Bulgaria. The transaction is the first step in EVN’s development in Bulgaria from an electricity distribution company to a multi-utility provider. The synergies arising from the acquisition will be optimally exploited. These include the consolidation of administrative and technical services such as billing, management functions (i.e. accounting) as well as the construction of electricity networks and pipelines.
