CEZ announced its plan to acquire 55.21% of GazNet, which had been owned by Macquarie Asset Management since 2013. The value of the acquisition amounted to $926 million. The acquisition will enter into force in the third quarter after the approval of the European Commission and the Ministry of Foreign Affairs. Czech industry.

Reuters quoted unidentified sources as saying that an auction was held in January of this year to acquire that percentage of GazNet, which ended at the end of the auction for CVC Capital Partners and CEZ. The latter succeeded in winning the auction.

GasNet mainly works on 80% of the distribution of natural gas throughout the Czech Republic through gas pipelines, which are 65 thousand kilometers long and have an amount of perhaps 66 terawatt-hours annually.

The CEO of CEZ said that this acquisition is important to help the company strengthen its position in the Czech gas market. Which will also help it advance the transition to clean energy, especially hydrogen.