Czech EPH confirms interest in reopened negotiations for 51% of Enea.

By bne IntelliNews November 19, 2010
Local energy holding Energeticky a Prumyslovy Holding (EPH) has confirmed its interest in the acquisition of 51% of Polish power utility Enea, the M&A newswire DealWatch informed quoting Polish News Bulletin. Earlier in the week, the Polish treasury ministry decided to reopen negotiations for the sale of Enea with interested parties. The decision followed the authorities, concerns that the Kulczyk Holding would not be able to keep the company because of the significant debts it would have to take to acquire it or that it would sell it to foreign investors. So far neither French EDF, nor GDF Suez, has confirmed interest in participating into new negotiations. The authorities want to complete the transaction by the end of March, against earlier plans for completion by the end of December. Enea is the third-largest Polish power utility and the majority stake is valued at some PLN 4.3bn (CZK 27.3bn, EUR 1.1bn).

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