The Slovak economy minister, Pavol Rusko, said that he was satisfied with the recommendation for the winner of the tender for the 66% stake in Slovenske elektrarne (SE) and he would have to find serious drawbacks in the bid in order to challenge the recommendation. Rusko added that he would submit his recommendation to the Cabinet on September 29 or October 6. The offered price had a 90% weighting in the evaluation of the bids. The remaining 10% related to proposed technical, strategic, financial and competitive improvements. Note that the privatization advisor recommended Enel of Italy as the winner, offering EUR 840 m, while CEZ came second with EUR 691 m. Separately, Industry and Trade Minister Milan Urban said yesterday that the Government would support CEZ's acquisition strategy in the CEE region (Bulgaria, Macedonia, Romania and Poland) no matter whether it wins the SE tender or not. Note that CEZ is to submit binding bids for power distributors in Romania (Oltenia and Moldova) on October 22. Source: CTK
Tomáš Gatěk, Patria Finance