MVV Energie AG is selling off all of its activities in the Czech Republic. The German energy group announced last week that it had signed an agreement to sell its subsidiary MVV Energie CZ to Cube Infrastructure Managers, an independent European mid-market infrastructure investor. The acquisition of MVV Energie CZ is being carried out through Cube's Infrastructure Fund III. The closing of the transaction is still subject to the usual closing conditions and the approval of MVV's supervisory board and is expected to take place in the fourth quarter of 2022.
According to parent group MVV, the Czech subsidiary provides services to customers in 15 cities and is among the leading producers and distributors of heat in the Czech Republic. The group is also active in electricity generation, energy from waste, energy consulting, water management and the provision of electronic communications services. MVV Energie CZ owns the energy supplier Termizo, Inc., which operates a waste to energy (wte) plant with a capacity of nearly 100,000 tonnes of municipal waste per year at its site in Liberec in northern Czechia....
