ČEPS, a state-owned operator of the electric power transmission systems, agreed to acquire NET4GAS, a comapany that specialises in international transit of natural gas across the Czech Republic. Financial terms were not disclosed. "The agreed purchase price consists of two parts - the first part in the amount of CZK 3bn will be paid upon closing of the transaction. ČEPS will pay the second part in two installments, up to a maximum of CZK 2bn, if the economic performance parameters of NET4GAS are met. The transaction will be covered from the company's own resources," Martin Durčák, ČEPS Chairman of the Board of Directors.