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Enel to wrap up SE deal by end of April

THE ITALIAN Enel firm has decided to complete the privatization of a 66-percent stake in Slovak energy utility Slovenské elektrárne (SE) by the end of April 2006, Enel CEO Fulvio Conti said in London on March 23.

Speaking at the presentation of Enel's consolidated results for last year, Conti confirmed that Enel had given up its insistence that Slovakia adopt a Nuclear Fund Act before closing the SE deal. Earlier, Slovak Economy Minister Jirko Malchárek had reported that Enel was dropping the condition.

"Minister Malchárek was right. We do not insist on this condition, we can close the transaction without this," Conti said.

However, before the transaction is closed, the A1 and V1 reactors at the Jaslovské Bohunice nuclear power station have to be transferred to the state-owned GovCo; which according to the Economy Ministry's schedule, should have been completed by the end of March. Besides that, the Gabčíkovo hydro power plant also has to be transferred to a water management firm.

According to Conti, Enel plans to invest €80 million in Slovakia to increase the quality of nuclear resources and another €173 million into renewable energy resources.

"Our intention is also to actively do business with neighbouring countries," said Conti.

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