Czech E.ON unit sells 17.93% stake in utility Teplarna Ceske Budejovice.

By bne IntelliNews September 29, 2010
The local unit of gas company E.ON sold its 19.73% stake in regional heating company Teplarna Ceske Budejovice to Lama Investment, E.ON Czech Republic spokesperson Vladimir Vacha told the CIA news agency. Lama Investment focuses on trade with natural gas. Details about the transaction have not been disclosed. Majority owner of Teplarna Ceske Budejovice is the city of Ceske Budejovice with an 80% stake. Teplarna Ceske Budejovice posted a non-consolidated profit of CZK 115.4mn (EUR 4.6mn) in 2008, up by 6.5% y/y.

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