ČEZ becomes the new owner of ŠKODA JS
20. 6. 2022
Press Release of ČEZ, a. s.
ČEZ will acquire ŠKODA JS, a major Czech company dedicated mainly to nuclear servicing and engineering
ŠKODA JS is an original Czech company with local employees, and unique domestic know-how. It has a long tradition of business cooperation with ČEZ, mainly in the areas of nuclear fuel and maintenance of primary circuits of nuclear power plants. Along with ŠKODA JS, ČEZ also acquires their shares in the science and research facility ÚJV Řež. This will increase the shares of ČEZ in ÚJV Řež from current 52,46% to a new total of 69,85%.
ČEZ is executing the complex transaction in cooperation with WOOD & Company, a leading investment bank in the CEE, which will hold the shares until the transaction is approved by the antitrust authorities. This approach will ensure that Škoda JS will cease to be endangered by sanctions immediately after signing of the transactions, while in normal circumstances this would happen only after ČEZ has received the approval from the antitrust authorities to take over the company.
ŠKODA JS, a. s., is one of the leading European engineering and manufacturing companies with experience in the construction and servicing of nuclear power plants. Founded in 1859, the history of today’s ŠKODA JS begins in 1956. Since then, it has been continuously active in the sector. During its existence, the company has supplied capital units, equipment and service for nuclear power plants, research reactors, and spent nuclear fuel storage facilities in Central and Eastern Europe, Scandinavia, France, Germany, USA, Austria, Finland, Belgium, PRC, Armenia, and other countries. ŠKODA JS, a. s., has manufactured and delivered 21 complete VVER 440 nuclear reactors and three VVER 1000 reactors. Since the 1990s, it has also focused on Western markets and technologies. It cooperates with the world’s leading companies in the field. Currently, engineering, production, and service contribute equally to the company’s sales, with exports accounting for approximately half of the company’s turnover. The company achieves annual sales of approximately CZK 3.5–4 billion. Almost half of its sales are generated from the export of equipment and services. It employs over 1,000 highly qualified professionals.
WOOD & Company is a leading investment bank in the Central European market. Founded in 1991, it has offices in seven European cities: Prague, Bratislava, Warsaw, Milan, Bucharest, Dublin and London. The company focuses on providing services in the areas of corporate finance and capital markets, securities trading and asset management.
More information about WOOD & Company is available at wood.com
CEZ Group spokesman
For more information, please visit: www.cez.cz
Statement of the General Director of ŠKODA JS:
The change of ownership implies a new stage, in which we will be able to fully utilise our capabilities and experience on major domestic and international projects without the restrictions that were associated with the previous ownership structure.
Given that ČEZ a.s. is a strong and well-established company on the market, this gives us a real opportunity to further develop ŠKODA JS.