Italian utility Enel announced that, as part of its €6bn divestment programme, the company has initiated exclusive negotiations for the sale of Enel’s stake in Slovak power utility Slovenske Elektrarne with the Czech enery company Energetický a Prumyslový Holding (EPH). The company, through its subsidiary Enel Produczione, holds a 66% shareholding in Slovenské elektrárne. Enel and EPH may sign a binding share purchase agreement "in the coming weeks".
The company paid €840m in 2006 for its 66% stake in Slovenské Elektrárne and, as part of the transaction, it agreed to complete construction of two additional reactors at the Mochovce nuclear power plant. In July 2014, it started to withdraw from Romania and Slovakia. Enel plans to sell its stake in Slovenské Elektrárne in two stages, through the sale of a minority stake by the end of 2015 and the remainder once construction of two nuclear power units at Mochovce nuclear power plant in Slovakia has been completed, which are now expected in 2017 and 2018. The Slovak Government owns the remaining 34% in the Mochovce nuclear power plant project.
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