Enel Enters Exclusive Talks With EPH to Sell Slovak Power Assets

Enel SpA started exclusive talks with Prague-based Energeticky & Prumyslovy Holding AS to sell its majority stake in Slovak power utility Slovenske Elektrarne AS.

The two companies may sign a binding purchase agreement in the coming weeks, Rome-based Enel said Monday in a statement on its website. Daniel Castvaj, a spokesman for EPH, confirmed the talks.

Italy’s largest utility, engaged in a 5 billion-euro ($5.7 billion) asset-sale program, will probably offload its 66 percent stake in Elektrarne in two phases, Enel Chief Executive Officer Francesco Starace said in June. The Slovak government, which owns the rest, has insisted Enel retain an interest until it completes two new reactors at the Mochovce nuclear plant.

Other potential buyers include a Hungarian group comprising Mol Nyrt. and state-owned MVM Zrt., which submitted an offer earlier this year, and China National Nuclear Corp., which is carrying out due diligence and may bid by the end of August, the Slovak government said last week.

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