Czech Utility Giant CEZ Plans Asset Split Before Possible Buyout

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Czech power utility CEZ AS outlined a plan to split its assets, a move that could pave the way for the government to obtain full ownership of its electricity production in a long-planned buyout.

CEZ’s board proposed a transfer of the customer segment — distribution of electricity and natural gas, trading and services — to a new subsidiary, it said in a filing, coupled with the potentially lucrative sale of a minority stake in that entity.