PPC winner announced

THE NATIONAL Property Fund (FNM) named PPC Holding the winner of the tender for the 90 percent stake in the lucrative steam and gas company PPC.

PPC Holding entered the tender for PPC with the Swiss group Aare Tessin fur Electricitat. PPC Holding is a subsidiary of the firm VSŽ Košice, which in turn is 90 percent owned by the financial group Penta, the Slovak economic daily Hospodárske noviny wrote.

FNM representatives said that the purchase price for PPC exceeded three times the value of the nominal value of the firm's shares on offer. The total is more than Sk2 billion (€49.3 million).

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