BUSINESS IN SHORT

FNM wants to sell heating firms

THE NATIONAL Property Fund (FNM), Slovakia’s agency that holds many state assets and deals with issues of privatisation, has decided that selling the country’s six largest central heating companies which it owns to private companies would be advantageous.

THE NATIONAL Property Fund (FNM), Slovakia’s agency that holds many state assets and deals with issues of privatisation, has decided that selling the country’s six largest central heating companies which it owns to private companies would be advantageous.

“Immediate proceeds from the sale are more beneficial from the fiscal point of view as well as in consolidation of public funds than the FNM’s long-term position in companies of only local importance,” the agency stated in its analysis of the economic benefits of retaining ownership and collecting dividends or selling the heating companies, the SITA newswire reported.

The FNM estimated that the privatisation process could be completed within a year if the government approves the sale of the heating companies in Bratislava, Žilina, Martin, Zvolen, Trnava, and Košice.

The market price of the six heating companies is estimated at €160 million to €200 million and the FNM said the sale should be handled through a bidding process.

Because prices for heat from the central heating plants will continue to be regulated, the FNM stated that privatisation would not negatively affect consumers, adding that private investors could best secure future investments in the facilities.

The government will deal with the recommendation only after the leaders of the four parties in the Coalition Council have discussed it, SITA wrote.


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