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Rusko approves Enel as new SE owner

The bidding wars for a 66-percent stake in Slovenské elektrárne are over. Economy Minister Pavol Rusko has selected Italian power producer Enel over two other participants of the tender - Czech ÈEZ and Russian RAO.

Rusko’s recommendation, which coincides with the choice of the privatisation committee, will go before the Slovak government on Wednesday, October 6. The cabinet must first approve Enel as a majority shareholder before contract negotiations between the Slovak government and the Italian investor can start, the Hospodárske noviny daily has reported.

Enel offered €840 million for the 66-percent stake in the Slovak power producer. The investor has indicated that it is prepared to pay 30 percent of the agreed price as an initial installment. The payment is expected to take place at the beginning of next year.

The entire transaction should be accomplished by June 2005.

Compiled by Martina Jurinová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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