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BUSINESS BRIEFS

Property Fund okays Enel deal

THE NATIONAL Property Fund (FNM) okayed the final version of the transaction documents giving Italian company Enel a 66-percent stake in Slovakia's state-owned power producer, Slovenské elektrárne (SE), FNM spokesperson Tatjana Lesajová told the SITA news agency January 29.

Before signing the contract with Enel, the Economy Ministry must ask the government to issue a privatization decree, which should take one to two weeks, according to ministry spokesperson Maroš Havran. After signing the transaction documents, the process of meeting 16 outstanding conditions begins for Enel.

One of the most important conditions is the transfer of the A1 and V1 nuclear power plants in Jaslovské Bohunice to the VYZ disposal station.

After the outstanding conditions are fulfilled, the closing of the contract can begin, the TASR news agency reported.

With the documents signed, Enel will pay 30 percent of the agreed-upon price, which means approximately €252 million. After the deal closes, Enel will pay the remainder of the total purchase price (€840 million), and will finally take physical possession of SE.

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