Bulgaria not considering sales of majority stakes in energy companies

Bulgaria not considering sales of majority stakes in energy companies

Bulgaria will rely on the sales of minority stakes in local state-owned energy companies to secure funds for the sector's overhaul and for investment, in particular power grid operator ESO and coal-fired power plant Maritsa East 2.The move was discussed at a meeting held between the country's Prime Minister Boiko Borissov, Finance Minister Simeon Dyankov, Economy Minister Traicho Traikov and representatives of local mining and energy trade unions.The state may also decide to seek private investors for minority stakes in electricity distributors, Dyankov said.Meanwhile, the country's Privatisation Agency said on May 30 that nine investment intermediaries had submitted bids to manage the sale of the Government's stakes in E.ON Bulgaria Networks and E.ON Bulgaria Sales, both units of power distributor firm E.ON.In mid-May, the agency opened a similar tender to select brokers for the sale of another two electricity suppliers, EVN Bulgaria and CEZ Bulgaria.The ministers also pledged to continue to develop the country's coal power industry and seek to introduce carbon dioxide capture systems. (Source: The Sofia Echo)

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