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EPH finalises buying shares in SSE

CZECH company Energetický a Průmyslový Holding (EPH) announced on November 27 that it had definitely finished acquiring shares of the Stredoslovenská Energetika (SSE) energy supplier. EPH, owned by Czech businessmen Daniel Křetinský and Petr Kellner and Slovak J&T financial group, bought a 49-percent share, with managerial control, from Electricité de France for €400 million.

CZECH company Energetický a Průmyslový Holding (EPH) announced on November 27 that it had definitely finished acquiring shares of the Stredoslovenská Energetika (SSE) energy supplier. EPH, owned by Czech businessmen Daniel Křetinský and Petr Kellner and Slovak J&T financial group, bought a 49-percent share, with managerial control, from Electricité de France for €400 million.

Economy Ministry spokesman Stanislav Jurikovič said that with the change of shareholders the state, which is the major owner of the firm, received better and stronger controlling powers in the company, as reported by the SITA newswire.

The new shareholder agreement redefines pre-emptive rights over a company’s shares and creates a new list of transactions which should be approved by the state. This includes controlling the material agreements where the counterparty of SSE might be a subject belonging to EPH. The agreements with previous shareholder did not allow the state to block such contracts, Jurikovič said.

The shareholders have meanwhile agreed on new members of board of directors and supervisory board. New chair of the BoD will become Martin Fedor, while Petr Sekanina and Jiří Feist became members of the BoD. Marek Spurný was elected new deputy chair of supervisory board, SITA wrote.

Also the members for the boards in subsidiary of SSE, Stredoslovenská Energetika – Distribúcia, changed. František Čupr became new chair of the BoD, while Róbert Ševela and Petr Kozojed were elected new board members. The post of deputy chair of the supervisory board of the firm went to Tomáš David, according to SITA.

Source: SITA

Compiled by Radka Minarechová from press reports

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