BUSINESS IN SHORT

Fico wants to buy gas sale concern

PRIME Minister Robert Fico wants to acquire 100 percent of the company that sells gas to consumers for the gas utility Slovenský Plynárenský Priemysel (SPP). He plans to agree on the acquisition of shares in the trade company of SPP with the prospective new co-owner of the gas utility, the Czech company Energetický Průmyslový Holding (EPH), which wants to purchase the minority stake currently owned by two investors from France and Germany. Yet, to realise the deal EPH needs the approval of the government, the Sme daily reported.

PRIME Minister Robert Fico wants to acquire 100 percent of the company that sells gas to consumers for the gas utility Slovenský Plynárenský Priemysel (SPP). He plans to agree on the acquisition of shares in the trade company of SPP with the prospective new co-owner of the gas utility, the Czech company Energetický Průmyslový Holding (EPH), which wants to purchase the minority stake currently owned by two investors from France and Germany. Yet, to realise the deal EPH needs the approval of the government, the Sme daily reported.

As gas supplies to clients are loss-making Fico can expect that EPH will give up its shares in the trade company and thus avoid any disputes with the government over gas prices. In exchange for the less lucrative assets the EPH might acquire a bigger share in the profit-making company responsible for gas transit, Eustream.

The cabinet should soon decide on the share sale.

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