The company is the largest gas distributor in the Czech Republic, currently having 1.2 million gas customers and 0.4 million electricity customers. According to estimates, the value of Czech activities is around EUR 800 million (CZK 21.3 billion).
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The innogy brand will remain in the Czech Republic even after the sale to the Hungarian company, and the current contracts and prices of the energy company will not change either.
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The acquisition of Czech innoga is an important step for MVM Group in its efforts to expand in Central Europe. “We believe that this transaction will increase competition in the Czech energy market. We are looking forward to cooperating with the group’s management, together we want to further develop the strong position of innoga on the Czech market, “said the head of MVM Group György Kóbor.
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The executive director of innogy in the Czech Republic, Tomáš Varcop, promises further development of the offer from the cooperation with the new owner. “I want to assure all our customers and partners that we will continue to be a reliable partner for them,” he said.
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Tomáš Varcop, CEO of innogy Czech Republic:
Under the new owner, we want to develop further and look forward to the new stage and the potential that the new owner offers to improve the offer for our customers. I want to assure all our customers that we will continue to be a reliable partner for them. pic.twitter.com/MhSsMoJeno— innogy (@innogy_cz) July 11, 2020
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The transaction, which has yet to be approved by the European Commission, is the final step in meeting the conditions offered by E.ON to the European Commission in connection with the approval of the transaction between RWE and E.ON.
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The German company has previously sold parts of the central heating business in Germany, parts of the retail electricity business in Hungary and also withdrew from reserved sites for the construction of charging stations for electric vehicles on German motorways.
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At the end of last year, Innogy employed about 4,100 people in the Czech Republic. The company provides natural gas, electricity and other services in the Czech Republic.
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