ČEZ is Selling its Stake in Slovak Company JESS
ČEZ Invest Slovensko, a wholly-owned subsidiary of ČEZ, is selling its 49% stake in Jadrová energetická spoločnosť Slovenska (JESS). The buyer is the Slovak state owned company Jadrová a vyraďovacia spoločnosť, a.s. (JAVYS), JESS’s other shareholder, which holds a 51% stake. The agreed purchase price is EUR 189 million. The purchase price is based on JESS’s market valuation. This expert valuation was prepared by the multinational firm EY and subsequently confirmed by KPMG. The transaction is expected to be completed in the coming days.
JESS’s primary objective is the development of new nuclear power capacity in Slovakia at the Jaslovské Bohunice site. The construction of new nuclear power plants is typically carried out under state oversight worldwide, and this transaction reflects that established approach.
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