ČEZ Group completed the acquisition of a 55.21% stake in GasNet from Macquarie for €847m.

ČEZ Group, an energy conglomerate, completed the acquisition of a 55.21% stake in GasNet, a natural gas distributor, from Macquarie, a financial services group, for €847m. “We are very pleased that we have managed to obtain approval from the European Commission as well as the Ministry of Industry and Trade of the Czech Republic and to complete the acquisition of GasNet. This will allow us to advance further in the transformation of ČEZ as well as in the modernisation of the country’s energy sector. Natural gas is an important fuel that will help the region transition from coal to emissions-free sources. Gas will play a key role in the heat generation sector, where we want to switch from coal to gas and biomass by 2030. Subsequently, we are planning to convert our gas infrastructure to the distribution of green hydrogen,” Daniel Beneš, CEZ Chairman and CEO.