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Slovakia Clears Sale of Gas Utility Stake by E.ON, GDF

The Slovak government approved the sale of a 49 percent stake in the country’s dominant gas company Slovensky Plynarensky Priemysel AS jointly owned by E.ON AG (EOAN) and GDF Suez. (GSZ)

Slovak Gas Holding BV, the joint venture that owns the 49 percent stake in SPP, was cleared for sale to Czech private equity group Energeticky a Prumyslovy Holding AS, the Slovak government said in a document posted on its website.

Slovak Premier Robert Fico said on Nov. 30 he wants the new owner of SPP to accept tighter price regulation. Fico’s government, which holds the remaining 51 percent of SPP, is negotiating with EPH conditions under which it will allow the transaction.

EPH expects to sign the transaction with the Slovak government “within several days” and complete the deal in January 2013, spokesman Martin Manak said in an e-mailed statement.

To contact the reporter on this story: Ladka Bauerova in Prague at lbauerova@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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