Skoda Praha’s (SP) AGM yesterday approved a debt-for-equity swap toward CEZ's claim on SP (CEZ owns 30% in SP), the general contractor of CEZ's Temelin nuclear power plant, regarding a penalty payment of CZK 700 mil. related to a two-month delay of the activation of plant's first reactor in 2001.
CEZ will thus increase its ownership stake in SP to 69%. Neutral.
Jiří Soustružník