Final price for SPP to be set in November

The German-French consortium that purchased a minority share in Slovak gas-distribution company SPP should settle the difference between basic and definite purchase price by November 11.

The final price for the 49 percent stake depends on the results of an audit in SPP conducted by Deloitte and Touche and KPMG, as of June 30 this year. The audit has not been completed yet, said Philippe Boucly, member of SPP's board of directors.

While the privatisation ministry has already received Sk121 billion ($2.75 billion) from the sale, audit results could bring the Slovak state up to Sk3 billion ($68 million) more.

Germany's Ruhrgas and Gaz de France agreed to purchase the 49 per cent stake in SPP this summer.

Although Russian Gazprom was originally involved in the consortium, it backed out of the deal in July, keeping an option to buy up to one-third of the minority stake.

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