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Czech Republic: Largest electricity co plans divestment, ups profit expectations

By  |  May 6, 2013

The Czech Republic’s largest electricity conglomerate has reportedly upped its full-year profit targets following the news it has reached a deal to sell one of its power plants. CEZ AS plans to divest its power plant in Chvaletice and, as a result, may increase its net income forecast by up to 10 percent; the optimism is helped by the company’s finalization of a 50-year brown coal supplies contract. The divestment was announced last March to end an investigation initiated by the European Commission.

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