A total of 14 investment intermediaries willing to sell the state-owned stakes in E. ON

e.gavrilov@klassa.bg

A total of 14 investment intermediaries have shown interest in bidding in the privatisation tender for the acquisition of the state-owned stakes in the Energy Distribution Companies (EDCs) such as E. ON Bulgaria Sales JSC and E. ON Bulgaria Network JSC, announced the Bulgarian Privatisation Agency. The final deadline set for the companies having already purchased their tender applications is May 27, when they must submit their contest bids for the selection of the intermediary for the listing of both entities at the Bulgarian Stock Exchange (BSE). The purchase of application forms itself does not automatically mean that all bidders will participate in the tender race. The evaluation criteria for the selection of the intermediaries are based on the amount of the remuneration set after realising a successful sale, on the accumulated turnover for previous years, as well as on the number of successful privatisation transactions concluded at the BSE. There is still no clarity on the final price for the sale of the residual stake of 33%. Under the same privatisation scheme, the Bulgarian State has planned to release for sale its stakes in other EDC's. It comes down to its 33% state-owned shares of CEZ Distribution Bulgaria JSC, CEZ Electro Bulgaria JSC, EVN Bulgaria Electricity Distribution JSC and EVN Bulgaria Electricity Supply JSC. Afterwards, the EDCs are expected to become public liability companies (PLCs) but, nevertheless, this will still depend on the decision of the majority owners. At the beginning of this year, there was danger for the state-owned stake in E. ON to decline after the Germany parent company E. ON AG announced its projects for raising the company's capital equity due to the losses incurred last year. The Economy Minister, Traicho Traikov gave no clear answer as to whether the Bulgarian State would partake in the increase in the shareholders' equity.

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