Yesterday, ČEZ finally took over ŠKODA JS, a major Czech company focusing on nuclear service and engineering

25. 11. 2022

Yesterday, the ČEZ Energy Group became a 100% owner of ŠKODA JS, a traditional Czech nuclear energy company. With this acquisition, ČEZ has solved the problem of its major supplier, which several years ago became part of the Russian engineering group OMZ, controlled by Gazprombank. This left ŠKODA JS vulnerable to the anti-Russian sanctions, which had a potential impact on securing key supplies for ČEZ's nuclear power plants. The agreement was concluded in June this year and temporarily, until the approval of the transaction by the antitrust authorities, the shares were held by WOOD & Company.

The transaction has been approved by four antitrust authorities - in the Czech Republic, Hungary, Slovakia and Ukraine.

"ŠKODA JS is our key supplier and by gaining control over this company we have significantly strengthened our energy security. The antitrust proceedings were not easy, especially in view of the war situation in Ukraine. We are glad that we have successfully completed the transaction," said Bohdan Zronek, Director of ČEZ Nuclear Power Division.

"ŠKODA JS is looking forward to a new promising era of its activities within the ČEZ Energy Group. A reliable and respected owner will support our position as a qualified and credible European company. We have a long-standing working relationship with ČEZ from our work for the Czech nuclear power industry and, of course, in many cases also personal bonds," said František Krček, General Director of ŠKODA JS a.s.

ŠKODA JS is a Czech company and supplier of key components and equipment for a number of power plants with domestic employees and unique know-how, with which ČEZ has long cooperated, especially in the field of nuclear fuel and maintenance of nuclear power plant primary circuits. Together with ŠKODA JS, ČEZ will also acquire an additional stake in the scientific research facility ÚJV Řež, which is now owned by ŠJS. ČEZ's share in ÚJV Řež will thus increase from 52.46% to 69.85%. As part of the transaction, ČEZ is also acquiring a 100% stake in Middle Estates, s.r.o., which owns the real estate used by ŠKODA JS for its business.

ČEZ carried out the complex transaction in cooperation with WOOD & Company, a major financial and investment group with a leading position on the Central European market, which held the shares until the transaction was approved by the antitrust authorities. This procedure ensured that Škoda JS stopped being threatened with sanctions immediately after the signing of the agreement, not after the antitrust authorities gave ČEZ Group approval to take full control, as would normally be the case.

ŠKODA JS a.s. is one of Europe's leading engineering and manufacturing companies with experience in the construction and servicing of nuclear power plants. ŠKODA was founded in 1859 and the history of today's ŠKODA JS begins in 1956. Since then, it has been continuously active in the industry. During its existence, the company has supplied investment units, equipment and services 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 revenues. The company achieves annual sales of around CZK 3.5 - 4 billion. Almost half of its sales are generated from export of equipment and services. It employs over 1,000 highly qualified professionals.

WOOD & Company is a major financial and investment group with a leading position in the Central European market. The group focuses on providing transaction advisory, corporate finance advisory, securities trading and asset management. Founded in 1991, the company has offices in seven European cities, including its headquarters in Prague and an experienced investment banking department in Bratislava. For detailed information on WOOD & Company, see

Ladislav Kříž
ČEZ, a. s. Spokesperson