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SE deal signed

ITALIAN company Enel and the Slovak government yesterday signed transaction documents for the sale of a 66-percent stake in the national power producer Slovenské elektrárne (SE).

Enel's general director Paolo Scaroni said his company was planning massive investments into SE in the next few years, the business daily Hospodárske noviny reported.

The respective investment plan should be submitted by the end of June this year.

"The plan will include all investments starting with the completion of the third and the fourth blocks of the Mochovce nuclear power plant, where the expenditures are estimated at €1 to 1.2 billion. Other investments will require another two to three billion," said Scaroni.

Italian managers will take up positions in SE even before the closure of the transaction, which is expected by the end of 2005.

Compiled by Martina Jurinová from press reports
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