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Enel makes first payment for SE

ITALIAN company Enel paid 20 percent of the total purchasing price for power producer Slovenské elektrárne February 24, according to the Hospodarske noviny business daily.

Enel paid the €168 million (Sk6 billion) into the account of the National Property Fund (FNM) privatization agency. The total purchasing price for the 66-percent stake in SE that Enel is set to buy is €840 million.

As agreed in the transaction documents, Enel will pay the rest of the money once the deal is completed, which is expected in the second half of 2005.

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