Eurohold has entered into an agreement to acquire the Bulgarian assets of Czech utility CEZ for EUR335 million (US$377.9 million).

CEZ Group’s assets in Bulgaria include a power utility company, a power supplier, an electricity trader, a solar farm, and a biomass-fired power plant.

Eurohold plans to close the deal with a combination of equity and debt financing. The company has commissioned two global investment banks to arrange the funding.

CEZ Group is engaged in power generation, distribution, trade in and sales business of natural gas. It is the largest utility and biggest public company in Central and Eastern Europe.