Two investors pull out of Electrica privatisation

The deadline for submitting binding bids for the controlling interests in the electricity suppliers Electrica Oltenia and Electrica Moldova has been extended by 12 days until October 18, Ministry of Economy and Trade representatives say.

CEZ (Czech Rep.), E.ON (Germany) and Union Fenosa (Spain) have submitted position documents to the authorities and will be allowed to submit binding bids. The two other pre-qualified investors, AES (USA) and Public Power Corporation (Greece), dropped out of the race. “Requests from the short-listed candidates for more information, which includes the data room information, have made it necessary to extend the submission deadline for bids in order to allow all investors to study carefully the data required in making offers that should match as closely as possible the value and the potential of the electricity distribution companies,” officials from the ministry explained. ZF