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The Russian state Holding MRSK wants to acquire a stake in E. ON subsidiaries in Bulgaria

The Russia-based Holding MRSK OAO (OJSC) expressed an interest in purchasing the 33% share in the state electricity distribution companies (EDCs) in the cities of Varna and Gorna Oryahovitsa, reported the news agency LiveBiz, citing its own sources. The majority stake in the EDCs is held by E. ON Bulgaria, while the state's stake is due to be listed on the Bulgarian Stock Exchange. First Financial Brokerage House was selected to act as investment intermediary for the transaction. The Russian company has already purchased the tender documents but the sale of shares will be implemented on a lot-by-lot basis and there might be several final owners.
The Czech company CEZ and the state-owned NEK (National Electricity Company) are expected to express interest in the purchase of shares, as well as other foreign companies operating outside Bulgaria. CEZ is the majority owner of the electricity network in Western Bulgaria and of TTP (Thermal Power Plant) Varna.
The state plans to sell its shares in the EDCs of CEZ and EVN as well. Central Cooperative Bank and Bulbrokers were selected to act as investment intermediaries for the sale.
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