Sparkling Capital Bidding for EON’s French Plants, Figaro Says

Sparkling Capital is bidding for four of EON AG (EOAN)’s French coal-fired power plants, Le Figaro reported, without saying where it obtained the information.

Sparkling Capital, a mid-sized company with headquarters in Paris and Hong Kong, pledged to maintain the jobs of all 365 employees at the plants, Le Figaro reported today. Electricite de France SA (EDF) backs Sparkling Capital’s offer, which was submitted yesterday to EON managers, according to the daily.

Dusseldorf-based EON said June 9 it was planning to close five French coal-fired power plants as they wouldn’t meet environmental standards and would be too costly to run. EON will keep the remaining plant, Le Figaro reported.

To contact the reporter on this story: Albertina Torsoli in Paris at atorsoli@bloomberg.net

To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net