Czech Coal Group unit bids for Vattenfall lignite assets
(Montel) A Czech Coal Group subsidiary has made an offer to buy Vattenfall’s lignite assets in Germany, a company spokesman told Montel on Wednesday.
"I can confirm that Vrsanska Uhelna from Czech Coal Group today submitted an offer for German assets of Vattenfall," said David Vidomus, without providing details.

Vattenfall has put up for sale its German lignite assets comprising several mines and 7.8 GW of power plant capacity. Interested buyers have until today to submit binding offers. 

Yet others have decided not to proceed with making bids, despite showing interest over the past few months. 

Cez on Wednesday cited concerns about falling power prices and uncertainty over early shutdowns coal power plants as reasons for not pursuing to acquire Vattenfall’s assets. 

German media reported that utility Steag had also decided not to proceed with bidding for the Vattenfall assets. A company spokesperson declined to comment on the report. 

Reporting by:
Marcin Czekanski
10:31, Wednesday, 16 March 2016

Reporting by:
Julia Demirdag
10:31, Wednesday, 16 March 2016

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