FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of February 2006
Commission File Number 333-7182-01
CEZ, a. s.
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(Translation of registrant's name into English)
c/o Duhova 2/1444
140 53 Prague 4
Czech Republic
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F. X...... Form 40-F.........
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): ____
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): ____
Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ..... No X..
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ________
The following information was filed by CEZ, a. s. in Czech language with the
Prague Stock Exchange as required by its rules and regulations:
Energy utility CEZ has paid another EUR 15.5 million to Romanian Government for
the distribution company Electrica Oltenia
As shown by a post-acquisition audit, the financial health of the CEZ Group's
Romanian distribution company Electrica Oltenia is significantly better. After a
financial due diligence for 2004 and the first nine months of 2005, the net
assets were found to be higher by RON 107 million (approx. EUR 29 million).
Accordingly, CEZ will pay for Oltenia another EUR 15.5, corresponding to a 51 %
increase in net assets and a majority interest of CEZ in Oltenia.
The total amount paid by CEZ for Oltenia is now equal to EUR 166.5 million
(approx. CZK 4.9 billion). "This is the final payment made under the executed
privatization agreement. Oltenia's performance is significantly better than
anticipated in the business plan, its operations improving at a dynamic pace,"
said Jan Veskrna, CEZ Romania's CEO.
The CEZ Group acquired Electrica Oltenia in a privatization tender held at the
beginning of last October. Electrica Oltenia is one of the eight major Romanian
distribution companies, with a 19 % share of the Romanian electricity market and
approximately 1.36 million customers. It operates within a territory covering an
area half that of the Czech Republic in seven out of a total of 40 Romanian
provinces. It employs 2,970 people. The total annual quantity of electricity
supplied by the company is about 6.8 TWh.
As a results of the Romanian acquisition, the number of CEZ Group's end
customers has reached 6.6 million, moving the CEZ Group from ninth place to
eighth place among the European energy utilities in terms of the customer
number.
Electrica Oltenia's performance according to IFRS:
EUR million 2003 2004
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Sales 361 399
EBITDA -17 70
EBIT -119 49
Net profit -58 46
Net debt (debt - cash) 1 1
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* translated using the
RON/EUR rate
of 3.558
Average headcount 2,960 2,930
Customer number 1,364,901 1,371,398
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
CEZ, a. s.
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(Registrant)
Date: February 2, 2006
/s/ Libuse Latalova
By:
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Libuse Latalova
Head of Finance
Administration