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PRAGUE – Energy firm EPH Group owned by Czech billionaire Daniel Kretinsky said on Dec 18 it would acquire a majority stake in Slovakia’s largest power producer Slovenske elektrarne.
EPH will buy a 50 per cent share in the Slovak Power Holding company controlling two-thirds of Slovenske elektrarne from Italy’s Enel.
It already acquired the other 50 per cent from Enel in 2016.
EPH has paid €150 million (S$200 million) for the takeover of Slovak Power Holding and vowed to cover loans provided by Enel to Slovenske elektrarne worth €970 million and unpaid interest worth €158 million.
“After the settlement of the transaction, Enel will have no financial claims vis-a-vis Slovak Power Holding and Slovenske elektrarne,” EPH said.
Slovenske elektrarne produced 21.66 terawatt-hours of power in 2023, mostly in its two nuclear plants, Jaslovske Bohunice and Mochovce.
EPH Group, ranking among Europe’s top 10 power companies in terms of installed capacity, has activities in nine European countries including Britain, France and Germany.
But Mr Kretinsky’s interests reach far beyond the power sector as he owns stakes in French supermarket group Casino, Elle magazine and Premier League club West Ham United.
On Dec 16, the British government announced it had given EPH the green light to take over the parent company of Royal Mail. AFP
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