BUSINESS IN SHORT

EPH reportedly buys stake in SSE

FRENCH company Electricité de France (EDF) has reportedly sold its stake in Stredoslovenská Energetika (SSE), one of Slovakia’s three main electricity distribution firms, for around €500 million to the Czech energy group Energetický a Průmyslový Holding (EPH), the SITA newswire reported, citing reports published on the Czech news website Motejlek.com.

FRENCH company Electricité de France (EDF) has reportedly sold its stake in Stredoslovenská Energetika (SSE), one of Slovakia’s three main electricity distribution firms, for around €500 million to the Czech energy group Energetický a Průmyslový Holding (EPH), the SITA newswire reported, citing reports published on the Czech news website Motejlek.com.

EPH is the only candidate to acquire a minority stake in SSE, after it obtained exclusivity to negotiate the sale of a 49 percent stake in SSE, which EDF wants to sell.

“Our company welcomes EDF's decision to grant us exclusivity,” EPH spokesperson Daniel Častvaj told SITA. He believes the whole transaction could be completed within a few days.

The Economy Ministry, which holds shareholder rights for a majority stake in SSE, was not prepared to confirm this information.

Neither SSE spokesperson Jana Bolibruchová nor EDF have commented on the matter, SITA reported.

The reported value of the transaction should be €400-500 million. SSE supplies electricity and natural gas to nearly 712,000 customers, and has been operating mainly in central Slovakia for over 85 years. French company EDF bought a 49 percent stake in SSE more than a decade ago for €158 million.

EPH is owned by Czech businessmen Petr Kellner and Daniel Křetínský, as well as the Slovak J&T financial group, the Sme daily wrote.

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