KKCG to submit offer for the Czech operations of Innogy

"I can confirm that we are contemplating the purchase of the Czech assets of innogy, and that we are in the process of preparing an offer which we intend to submit within the next few days. We want to give serious consideration to this business opportunity which has appeared on the market, seeing as it perfectly dovetails with our long-term strategy of developing the energy segment of our group. This segment is represented by the activities of MND Group, which pursues its business in the same market areas as Innogy, i.e., in particular, electricity and gas supplies to private households and enterprises, and the operation of underground gas storage facilities. MND Group is one of the biggest players in the Czech energy market, and the successful absorption of the Czech operations of innogy would boost MND's Group position in the domestic market in a major way," says Karel Komárek, owner of KKCG Group and chairman of the board of directors of MND a.s.

Such a sale of assets of innogy in the Czech Republic would conform to the understanding reached last month on the European level between innogy's parent company RWE and its competitor E.ON, on a demerger of innogy Group.