William Malcolm

EPH To Sell Stake In Stredoslovenská Energetika

Daniel Křetínský and Patrik Tkáč’s  energetický a průmyslový holding (EPH) is selling a stake in Stredoslovenská energetika (SSE). The company is one of the three regional distributors of electricity in the country. CEZ and E.ON německýpodnik, are the favorites to take over the stake but the Hungarian state energy company MVM is also interested.

EPH holds 49 percent of the shares in SSE and has managerial control in it. EPH joined the company in 2013, when it bought the said share for approximately EUR 400 million from the French power company Electricité de France. The remaining 51 percent of shares in SSE are controlled by the Slovak government.

According to the paper, the Hungarian company MVM increased its offer to acquire a stake in SSE to 1.2 billion euros, and ČEZ valued the company at approximately 900 million euros.

MVM is also active in the Czech Republic, last year it bought the energy group Innogy Czech Republic. It is the largest gas supplier in the Czech Republic and also operates in the supply of electricity.