ČEZ to get 100% in Škoda JS, increases share in ÚJV Řež

Published: 30.06.2022 Related countries:  Egypt Egypt

ČEZ will solve the issue of its important supplier Škoda JS will no longer be threatened with sanctions.

The ČEZ (Czech electric company) Group will become a 100% owner of ŠKODA JS (nuclear machinery). It will also mean an increase in its share in the science and research institute ÚJV Řež from 52.46% to 69.85%.
Furthermore, through the acquisition, ČEZ will solve the issue of its important supplier, which became part of the Russian machinery group OMZ, controlled by Gazprombank, several years ago. The transaction is being realised in collaboration with the investment group WOOD & Company, which will hold the shares until approval by anti-monopoly offices. This will ensure that Škoda JS will no longer be threatened with sanctions after signing the contract. 

Source: www.cianews.cz/en
Prepared by the team of CzechTrade Egypt