Slovakia interested in raising stake in Enel local unit.

Slovakia is looking at various ways to strengthen its position in domestic electricity producer Slovenske Elektrarne, which has been put up for sale by majority owner Enel, Prime Minister Robert Fico said on Thursday. Fico told reporters the state, which already owns a 34 percent share, could try to buy Enel’s 66 percent stake or take a 17 percent stake to give it a majority. “If it is advantageous for us and we have financial resources, we will try at least to increase Slovakia’s shareholding in Slovenske Elektrarne,” he said. “There is the possibility we would not buy 66 percent but, for example, only strive to buy 17 percent, which would … give us a majority. But we need to find a partner for that who would be interested in 49 percent. There are several options.”

Enel, Italy’s biggest utility, has put its stake in the Slovak group up for sale as part of efforts to cut its debt. Enel’s Chief Executive Francesco Starace told Reuters on Sept. 6 the company expected to start negotiations with one or two potential bidders by mid-November. Czech power producer CEZ has already said it was preparing to take part in talks while another Czech energy group EPH has shown interest. Fico has said Slovakia would have no problem with CEZ, central Europe’s biggest utility, as an investor in the company. A banking source told Reuters in June that several companies had shown preliminary interest in Slovenske Elektrarne. The banker said the business had an enterprise value of about 3.8 billion euros, including debt of 1 billion. The Slovak company is working on the completion of two nuclear power units at its Mochovce plant at a cost of about 3.8 billion euros after earlier budget targets were exceeded.

Source Reuters

Slovakia says work on gas link to Ukraine on schedule.

Construction work on a pipeline that will allow gas to be sent from western Europe to Ukraine is on schedule and the contracted capacity will be available from Sept. 1, Slovak pipeline operator Eustream said on Thursday.

Ukraine uses about 50 billion cubic meters (bcm) of gas a year and has increased efforts to secure more gas from the European Union after Russian producer Gazprom raised prices for supplies to Ukraine in a spat that has added to the crisis in the former Soviet state.

Russia covered half of Ukraine’s gas needs last year but halted supplies on June 16 over the price disagreements and Kiev’s outstanding debt for earlier deliveries.

The Slovak pipeline – an upgraded older link leading from the Vojany power station near the Ukrainian border to the western Ukrainian town of Uzhorod – can supply up to 10 bcm of gas a year and an Eustream spokesman said this capacity would be available on an interruptible basis from September and on a firm basis from March 2015.

Testing of the pipeline will start in late August, the company said, adding that full capacity was booked until 2019.

Combined with available connections from Hungary and Poland, Ukraine can get obtain up to 16-17 bcm of gas from western Europe. Real flows through the existing Polish and Hungarian connections, however, have been smaller in the past two weeks, with Ukraine citing reluctance of companies within the EU to antagonize Gazprom.

Eustream said it has also moved ahead with constructions on an interconnector with Hungary, which should start test operations in September.

Source Reuters


Hyundai Mobis plans to invest $197 mln into Czech factory-industry minister.

South Korea’s Hyundai Mobis , a unit of Hyundai Motor Co, plans to invest 4 billion crowns ($196.68 million) into a new factory in the Czech Republic to produce headlights, Czech Industry Minister Jan Mladek said on Thursday.

The Czech cabinet will meet later on Thursday to approve an investment contract with the company.

Hyundai Mobis already has operations in the central European country, supplying Hyundai Motor Co’s car plant. The new factory in the eastern Ostrava region will employ more than 900 people after completion in 2016.

Source Reuters

ENEL vende in Slovacchia.

Enel passa all’azione e avvia, come promesso, un nuovo piano di cessioni per ridurre il  debito. Le dismissioni riguardano le attività di generazione in Slovacchia e quelle di distribuzione e vendita in Romania e si inseriscono nell’ambito del programma di vendita di attività patrimoniali implementato durante l’amministrazione di Fulvio Conti e che ora Francesco Starace e il nuovo cda puntano a portare avanti.
Dalla Slovacchia, paese prescelto dall’allora ad Paolo Scaroni per mantenere competenze dirette nel nucleare bandito in Italia, l’Enel uscirà completamente. Il perimetro oggetto di cessione riguarda infatti l’intera partecipazione del 66% detenuta in Slovenske Elektrarne, principale operatore nazionalemuntenia nel settore della generazione di energia elettrica con una quota di mercato prossima all’80%. Slovenske Elektrarne dispone di un parco centrali caratterizzato da una capacità installata di 5.700 MW e da un mix equilibrato di fonti di generazione, dall’ atomo, appunto, all’idroelettrico e al termoelettrico. Nel 2013 la società ha realizzato ricavi per quasi 3 miliardi ed un ebitda di 708 milioni di euro.
Per quanto riguarda la Romania, il perimetro oggetto di cessione riguarda invece il 64,4% del capitale sociale di Enel Distributie Muntenia SA e di Enel Energie Muntenia, il 51% del capitale sociale di Enel Distributie Banat, di Enel Distributie Dobrogea e di Enel Energie, nonché il 100% del capitale sociale della società di servizi Enel Romania (posseduti da Enel per il tramite di Enel Investment Holding). Le società gestiscono una rete elettrica di circa 91.000 chilometri (con una quota di mercato del 34% su base nazionale) e vendono quasi 9 TWh all’anno a circa 2,6 milioni di clienti, di cui 2,4 milioni residenziali (con una quota di mercato del 20% su base nazionale) e 0,2 milioni business (con una quota di mercato del 38% su base nazionale). Gli asset slovacchi e rumeni concorreranno al programma di cessioni da 6 miliardi di euro già avviato nel 2013 e attualmente realizzato per circa 1,6 miliardi di euro, grazie alla vendita in Russia di Servenergia per 1,2 miliardi di euro e di altre attività minori in Italia e Spagna. Unitamente ad ulteriori asset non strategici contribuiranno a raggiungere un valore complessivo superiore all’obiettivo residuo di 4,4 miliardi di euro, in modo da dotare il programma stesso della necessaria flessibilità.

Fonte Ansa Europe

Slovak Telekom is likely to be fined by the EU.

Aetna Inc, the third largest U.S. health insurer, is exploring a sale of some of Coventry Health Care Inc’s assets worth as much as $1.5 billion, according to people familiar with the matter, a year after it acquired its rival for $5.6 billion.

One of Britain’s largest hospital chains, Spire Healthcare, is about to list on the London Stock Exchange in a float estimated to be about 1 billion pounds ($1.70 billion), two sources familiar with the matter told Reuters.

Belgian nappy maker Ontex has set the price for its Brussels listing at 18 euros a share, giving the firm an equity value of 1.23 billion euros ($1.7 billion), two sources familiar with the matter said on Tuesday.

Deutsche Telekom and its Slovak Telekom unit are likely to be fined by EU antitrust regulators for squeezing out competitors by charging unfair wholesale prices in Slovakia, two people with knowledge of the matter said on Tuesday.

India’s Reliance Communications Ltd on Wednesday raised $804 million by selling shares, people involved in the process said, in what is the single biggest equity issue since the pro-business Narendra Modi government took office.

Electronics retailer Best Buy Co is looking at a sale of or partnership for its Chinese business to better focus on its U.S. business, the Wall Street Journal reported citing people familiar with the matter.

Source Reuters

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