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Chinese company is reportedly interested in SE stock

THE STATE-run China National Nuclear Corporation (CNNC) may soon enter the competition over a 66-percent share of Slovakia’s main electricity producer Slovenské Elektrárne (SE).

Mochovce nuclear power station(Source: TASR)

Its analysts allegedly visit the data rooms of the company and gather specific information about it, like accounting documents and contracts, in order to come up with a specific offer, the Sme daily reported.

Analysts say that there is a real possibility they will compete for the SE stock.

Read also: Read also:Enel moving forward on sale of SE shares

Currently there are two companies which have officially submitted their bids: the Czech-Slovak company Energetický a Průmyslový Holding, which is co-owned by J&T financial group, and Slovak-Hungarian consortium Slovnaft – MVM Group. Some media outlets also mentioned as potential bidders Finnish company Fortum and the Slovak government; the latter currently owns 34 percent of SE shares, Sme wrote.

The potential interest of Chinese firms may be indicated also by a July meeting between the representatives of CNNC and Russian nuclear company Rosatom, at which they talked about potential cooperation in nuclear power plant projects.

“The Chinese should be certainly listed as a potential bidder,” Luděk Plíšek, manager of the Redbaenk company, told Sme. “They have proven several times that if they are interested in something, they can come with a very interesting offer.”

CNNC may, however, not have much time to come with the offer, according to Sme. Italian company Enel, which is selling the 66-percent stock, wants to decide on the winning bid soon. The original deadline was set for the end of July, but it failed to make it.

There may be several reasons for this, while one of them is that it is waiting for the offer from the Chinese. Another reason may be the holiday season which is now winding down in Italy, Sme wrote.

Topic: Energy


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