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Enel agrees SE sale

ITALIAN company Enel will sell half of its 66-percent stock in Slovenské Elektrárne (SE) power producer to Czech Energetický a Průmyslový Holding (EPH).

Mochovce nuclear power plant(Source: SME)

The Slovak government, which is also interested in some shares, should unveil the agreement with Enel on improving its position in SE on December 16, the Denník N daily reported.

Spokesperson for EPH Daniel Častvaj confirmed to the Sme daily that Enel and EPH have agreed on all trade and legal aspects of the sale; the final deal is ready to sign.

“This is why we will not provide any further details,” Častvaj added. The agreement should be signed by the end of this year, he added.

Read also: Read also:Sale of SE shares to EPH in final stage

It is not clear how much EPH, owned by Czech businessman Daniel Křetínský and Slovak Patrik Tkáč of J&T financial group, will pay for the 33-percent stock. Enel expects to receive €1.3 billion for its whole 66-percent stock, according to Denník N.

By acquiring the shares, EPH will make it into another Slovak strategic firm. It already owns 49 percent of the Slovak gas transmitter Eustream where it also has managerial control.

Meanwhile, the Slovak government which owns 34 percent of SE, started negotiations with Enel over signing the memorandum, based upon which the state will strengthen its position in the firm. The government may increase its stock to 51 percent, according to Sme.

The government is also trying to settle a dispute with Enel over the hydroelectric power plant in Gabčíkovo, which should remain in the state’s hands without any unpaid financial claims, Denník N wrote.

Topic: Energy


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