CEZ under investigation by anti-corruption police
Czech energy giant comes under the magnifying glass.
Czech power incumbent CEZ is under investigation by the anti-corruption police for alleged irregularities in the sale of its subsidiary I&C Energo to Hungarian oil and gas group MOL, internet daily the Prague Monitor reported, September 9.
“The police’s suspicions concern the price of the transaction and reasons for the sale,” The Prague Monitor wrote.
CEZ sold I&C Energo in 2008 for CZK 770 mln. Its new Hungarian owner reportedly immediately sold the CEZ subsidiary to a Dutch holding company owned by entrepreneur Jozef Broz. Broz is allegedly close to Martin Roman, who headed the CEZ board of directors at the time.
Anti-corruption experts will investigate who on the CEZ board was behind the sale. Both Roman and Broz denied any direct involvement in the transaction.
CEZ spokespeople have denied any wrongdoing, stating that the 2008 transaction was in line with their strategy.
Meanwhile a CEZ audit is being carried out by international auditing company KPMG. The results are expected later this month.
