Energo Pro Sales AD (Bulgaria)

Elektrorazpredelenie Varna (Electricity Distribution Company Varna), now Energo-Pro Sales, was established in 2000 after retail sales of electricity activities were spun off the country's power export monopoly National Electric Company (NEC). Its core business consists of the sale of electric power in 9 Bulgarian administrative regions - Varna, Veliko Tarnovo, Gabrovo, Dobrich, Razgrad, Ruse, Silistra, Targovishte and Shumen.
In September 2004, German utility E.ON signed a deal to buy 67% stakes in the power distribution utilities in Varna and in the central town of Gorna Oryahovitsa. In January 2006, the European Bank for Reconstruction and Development bought 8.0% stakes in the two Bulgarian power utilities owned by E.ON Energie, paying a total of EUR 16.8 million. In 2006, Elektrorazpredelenie Varna was renamed into E.ON Bulgaria Sales in line with the legal requirement for Bulgarian electricity distribution companies to separate their distribution from sales activities. Respectively, Elektrorazpredelenie Gorna Oryahovitsa was put in charge of electricity distribution and renamed into E.ON Bulgaria Networks. In mid-2012 E.ON sold 100% of E.ON Bulgaria to Czech energy firm Energo-Pro. At the time of the deal E.ON Bulgaria held stakes of 67% in each of E.ON Bulgaria Grid and E.ON Bulgaria Sales. In October 2012 the Bulgarian privatization agency offered for sale its 33% skates in Enеrgo-Pro Grid and Enеrgo-Pro Sales.