Electrica to get more from privatisations

Electrica SA will collect tens of millions of euros more from the sale of four branches to Enel (Italy), CEZ (Czech Republic) and E.ON (Germany), following adjustments to the buying price. The differences come after information pertaining to certain parameters of the privatised Electrica branches was updated, including net assets and net debts. The Ministry of Economy and Trade, which owns 100% in Electrica SA, has drawn up a draft normative act with a view to accelerating the privatisations involving E.ON and CEZ, which are scheduled for completion this autumn. This includes adjusting the buying price for Electrica”s Oltenia and Moldova branches, as well as the right of the buy/sell option on the shares held by Electrica SA in the two branches. Electrica SA stands to gain a further 15 million euros from Enel as a result of the adjustment to the buying price for 24.62% stakes in both Electrica Banat and Electrica Dobrogea, sources say. ZF