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Enel reportedly nears deal with EPH

ITALIAN company Enel has reportedly gotten closer to selling half of its share in Slovenské Elektrárne (SE), Slovakia’s main electricity producer, to Czech Energetický a Průmyslový Holding (EPH).

Illustrative stock photo(Source: SITA)

The deal on a 33-percent stake in SE for €350 million should be agreed by the end of the month, the Financial Times reported on its website, referring to three people with knowledge of the talks.

“Almost everything has been agreed, there are just a few little details to decide,” one of the sources told Financial Times. A second person said the deal would come in the “coming weeks”, the daily wrote.

The spokeswoman of Enel told Financial Times that the negotiations with Enel “are ongoing and we expect to finalise a deal some time soon”, while EPH’s spokesman refused to comment on the talks.

Read also: Read also:EPH allegedly closing in on SE deal

The Financial Times also addressed Slovakia’s Economy Minister Vazil Hudák, who said that he was sure a deal between Enel and EPH would be done “before Christmas”, and that the company was a strategic asset for Bratislava.

Enel and EPH, which is owned by Czech tycoon Daniel Křetinský, Slovak businessman Patrik Tkáč and J&T financial group, launched exclusive talks on selling the former’s stake in August. Originally, also Slovak-Hungarian consortium of the Slovnaft refinery and the MVM Group were interested in the stock, but withdrew from the negotiations in October, the SITA newswire wrote.

Also the Slovak government, which owns 34 percent in SE, is interested in acquiring a 17-percent stake in SE.

Topic: Energy


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