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Czech GasNet group is for sale

Semi-state energy company CEZ and private investment group CVC Capital are planning to submit competing bids for the Czech gas distribution network GasNet.

GasNet supplies natural gas to households and businesses throughout the Czech Republic, except Prague and the South Bohemia Region, manages 65,000 kilometres of pipelines and has more than 2.3 million customers. It has an eighty percent share of gas distribution in the Czech Republic. GasNet is owned through Czech Gas Network Investments (CGNI) by a consortium of investors led by Macquarie Asset Management (MAM).

GasNet's net profit fell to CZK 1.89 billion the year before last year, down 35 percent year-on-year. Other gas distributors in the Czech Republic are EG.D of the E.ON group in southern Bohemia and Pražská plynárenská distribuce in Prague.

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Source: GasNet