E. ON to sell its Bulgarian subsidiaries?

The German energy company E. ON, which is the majority shareholder of the electricity distribution network in northeastern Bulgaria, intends to withdraw its stakes from our country, announced yesterday the website Lifebiz.bg, citing its sources.  The company's arguememts are based on an Information Memorandum, which was distributed by the company to its potential purchasers. The company refused to make any comment.

In Bulgaria, E. ON owns 59% of the energy distribution network in Varna and Gorna Oryahovitsa, while the state holds a 33% share of both companies. The remaining 8% are controlled by the European Bank for Reconstruction and Development. The E.ON subsidiaries in Bulgaria are not public companies, but due to the upcoming privatization of the state share via the tendering procedures at the Energy Exchange, they would obtain such a legal status, according to the Bulgarian Privatization Agency.

According to the Information Memorandum to the potential purchasers, the upcoming sale of minority package of state shares will enable the prospective buyer to acquire a financially stable company, explained the Agency.

Besides, for the first 2 quarters of the year, Kozloduy NPP's profit amounted to BGN133,3 mln, stated yesterday in Parliament, Energy Minister, Traicho Traykov. In his words, the plant would continue to provide cheap electricity mainly to household subscribers.

The Bulgarian Energy Exchange (EE) is expected to be start operations around the end of 2012, claim sources of the Energy Department. The option for connecting the Bulgarian EE with the Leipzig-based European Energy Exchange, which is the benchmark for the region is also under discussion. Initially, the Bulgarian EE was expected to become operative jointly with the Romanian one until March next year.

Прочети цялата новина

Свързани новини: