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Final decision on selling of Enel's stake in Slovak Electricity Utility expected soon

Xinhua, August 21, 2015 Adjust font size:

The Slovak government is waiting for further steps to be taken by Italian concerning Enel when it comes to the latter's plans to sell its 66-percent stake in Slovak electricity utility Slovenske elektrarne (SE), Slovak Economy Minister Vazil Hudak said at a press conference on Thursday.

"We're waiting for how Enel decides vis-a-vis selecting the so-called preferred partner. According to my information, this partner should be selected by the end of August or in early September. The process has been somewhat delayed, it isn't easy for Enel," added Hudak.

He noted that there are two official bidders for Enel's stake in SE so far - a consortium of MVM Group and MOL, and Energeticky a prumyslovy holding (EPH) owned by Czech businessman Daniel Kretinsky, Slovak businessman Patrik Tkac and financial group J&T.

"We also know that the China National Nuclear Corporation (CNNC) is also interested, and it's carrying out due diligence. It's expected that its binding bid should be directed at Enel by the end of August," stressed Hudak.

While Enel holds 66 percent of SE's shares, the remaining 34-percent stake is controlled by the state of Slovakia. Endit