ČEZ Group
has become 100% owner of ŠKODA JS, a Czech nuclear energy company. With the
purchase, ČEZ has solved the problem of its major supplier, which several years
ago became part of the Russian engineering group OMZ, controlled by
Gazprombank. This left the company vulnerable to sanctions, which had a
potential impact on securing key supplies for ČEZ's nuclear power plants. The
agreement was concluded in June 2022 and the shares were temporarily held by
WOOD & Company, pending approval of the transaction by the antitrust
authorities in the Czech Republic, Hungary, Slovakia, and Ukraine.
Source: CIA News
Prepared by the team of foreign office CzechTrade and CzechInvest Seoul