12/02/2011

E.ON disposes of E.ON Bulgaria


Source: http://www.eon.com/en/media/news-detail.jsp?id=10760&back=%2fen%2findex.jsp

E.ON signed an agreement today with the Czech company Energo-Pro to sell its 100 percent subsidiary E.ON Bulgaria.

The volume of the transaction amounts to 133 million euros. The company, based in Varna, operates a distribution network of about 42 000 kilometers in North-East Bulgaria and delivered around 5.3 billion kWh of electricity in 2010. In 2004, E.ON took over majority stakes in a grid operator as well as a sales company during the privatization of the Bulgarian energy market and merged these two companies to form E.ON Bulgaria.E.ON intends to divest 15 billion euros in assets by the end of 2013. So far more than 9 billion euros have already been realized. The new owner Energo-Pro is a private Czech energy provider focused on Central and Eastern Europe as well as the Black Sea region and the Caucasus.

 

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