Luxembourg court freezes ČEZ stakes in gas network subsidiaries amid Diag Human dispute

The Luxembourg court, acting on a request from DIAG HUMAN SE, issued two orders that block ČEZ's ownership interests in Czech Gas Networks S.à r.l. (CGN) and Czech Gas Networks Investments S.à r.l. (CGNI). ČEZ reported that the orders limit the subsidiaries' ability to manage assets belonging to the Czech Republic and to ČEZ. The energy group described the rulings as illegal and as a form of legal intimidation. It also stated that DIAG HUMAN SE never held a claim against ČEZ or any other member of the ČEZ Group, and that any alleged claims are directed solely at the Czech state. ČEZ intends to pursue all legal remedies and anticipates that the decisions will be reversed within a few months. The company emphasized its confidence in the illegality of the measures and its commitment to protect its rights.