Financial regulator confirms sale of EVN Bulgaria state stake.

By bne IntelliNews December 7, 2011
The state financial commission has confirmed the prospect for privatisation of the 33% state stake in EVN Bulgaria Elektrorazpredelenie and EVN Bulgaria Elektrosnabdiavane, majority controlled by Austria's EVN, the regulator informs on its website. The sale of the state stake (51,612 shares or 33% of EVN Bulgaria Elektrorazpredelenie and 62,106 shares or 33% of the capital of EVN Bulgaria Elektrosnabdiavane) will be executed through public offerings on the privatisation segment of the local stock exchange. EVN Bulgaria runs the power distribution network in south-east Bulgaria and services more than 1.5mn clients. Bulbrokers was selected as an investment broker for the sale. In August, the privatisation agency announced expectations to sell the minority state stakes in the three power distributors in the country, majority controlled by Czech CEZ, Germany's E.ON and Austria's EVN, by the end of this year. The financial regulator has not yet approved the IPO prospectuses of CEZ and E.ON.
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