EVN Takes Full Control Over EVN Bulgaria Elektrorazpredelenie

EVN Takes Full Control Over EVN Bulgaria Elektrorazpredelenie

Power distributor EVN Bulgaria Elektrorazpredelenie said its majority owner, Austrian energy group EVN, bought the 0.09% in the Bulgarian company it did not already own.

EVN bought the remaining 145 of the 156,400 shares in the power distributor in three deals registered at the country's central depository between August 23 and August 30, EVN Bulgaria Elektrorazpredelenie said in a bourse filing on Friday.

In July, EVN offered to pay 3,045.34 levs ($1,953.17/1,557.06 euro) per share to the minority shareholders in the power distributor, revising its previous offer of 2,912.88 levs apiece, which the country's financial regulator temporary barred from publishing at the end of June.

Plovdiv-based EVN Bulgaria Elektrorazpredelenie is licensed for the transmission and distribution of electricity and the operation of a distribution grid.

The Austrian company acquired majority stakes in two of Bulgaria's regional power distributors in 2005 and a year later EVN Bulgaria Elektrosnabdiavane and EVN Bulgaria Elektrorazpredelenie were set up for the purposes of the unbundling of electricity distribution from electricity supply activities by means of a spin-off.

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