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Slovenské elektrárne sold

SLOVAK power producer Slovenské elektrárne (SE) was sold to the Italian Enel yesterday,.

The Italian company sent Sk31.3 billion to a state account at ING Bank for the 66 percent stake in SE, which is the second largest power producer in Central Europe. In turn, the Slovak National Property Fund (FNM) transferred the shares to the buyer, the Hospodárske noviny daily wrote.

Before the transaction was concluded, the current general director of SE, Miroslav Pikus, was removed from his post. According to Hospodárske noviny, Enel's area manager, Marco Arcelli, should take over as the new SE director.

The Italians have pledged to invest Sk70.8 billion (€1.9 billion) in Slovakia by 2013. It remains unclear whether the sum also includes money required for the completion of the Mochovce nuclear power plant. It is also unclear whether the Italians plan to complete this plant at all.

Compiled by Martina Jurinová from press reports
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