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The Economic Competition Protection Authority has approved the acquisition of Škoda JS by ČEZ Energy Group and Middle Estate, which manages and leases Škoda properties. The Antitrust Administration reported this in a press release on Wednesday. Škoda JS manufactures equipment for nuclear energy.

A few years ago, Skoda JS became part of the Russian engineering group OMZ, controlled by Gazprom Bank. Because of this, he was now at risk of anti-Russian sanctions, which could affect his ability to secure key supplies for his ČEZ nuclear power plant.

The authorities will review the impact of the mentioned merger on the level of competition in the markets for electricity production and wholesale distribution, nuclear island design and construction for new nuclear power plants, and nuclear power plant primary circuit maintenance and services. I rated it.

“He concluded that mergers do not increase the market power of amalgamating competitors so much as to result in substantial distortion of competition, especially as a result of the creation or strengthening of a dominant position of the amalgamating competitor. either,” the press release said.

Thanks to the acquisition, the Energy Group will also acquire a larger stake in ÚJV Řež. ŠkodaJS now owns a scientific research facility in Řež, which increases his ownership percentage of ČEZ from his 52.46% to his 69.85%. Škoda JS has Czech employees, and ČEZ has a long-standing cooperation with Czech employees, especially in the field of nuclear fuel and primary circuit maintenance of nuclear power plants.

ČEZ is cooperating with Wood & Company in conducting the transaction, and Wood & Company will hold the shares until the transaction is approved by the antitrust authorities. As a result, Škoda JS will no longer be threatened with sanctions as soon as the contract is signed until after it has been approved by the authorities.

Škoda JS Ltd. is one of Europe’s leading engineering and manufacturing companies with experience in nuclear power plant construction and service, dating back to 1956. Plants, research reactors and spent nuclear fuel storage fuels in Central and Eastern Europe, Scandinavia, France, Germany, USA, Austria, Finland, Belgium, China, Armenia and other countries.

Since the 1990s, we have also focused on Western markets and technologies. We work with the world’s leading companies in this field. Engineering, manufacturing and services are now evenly shared in the company’s turnover, with exports accounting for about half of its turnover. The company has achieved annual sales of about 3.5 billion to his 4 billion crowns, with pre-tax profit in 2020 surpassing his 122 million crowns and sales surpassing his 3.3 billion crowns. We employ over 1,000 highly qualified professionals.

ČEZ Energy Group’s net profit last year reached 9.9 billion crowns, an increase of 81% year-on-year. Adjusted for anomalous effects, it fell 3% year-on-year to 22.3 billion crowns. CEZ’s major shareholders are the states, which hold about 70% of the shares through the Ministry of Finance.

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