BRATISLAVA, March 23, (WEBNOVINY) — The Cabinet has approved on Wednesday the sale of a 100-percent stake in the country’s six largest heating companies. “The Cabinet has accepted the proposal of the government privatization agency, the FNM, so we will sell 100-percent stakes,” stated FNM Chairwoman Anna Bubenikova. The FNM and the ministries of economy and finance suggested that the Cabinet sell a 100-percent stake in the heating companies in Bratislava, Trnava, Zilina, Martin, Zvolen and Kosice.
Privatization of the country’s six largest heating companies should be launched in the second half of this year. The process will start with selection of an advisor, according to the analysis that was on the Cabinet’s table on Wednesday. “The sale should start as soon as possible,” added Bubenikova. Authors of the analysis expect investors to submit final bids sometime in March of next year, after a privatization advisor is selected and due diligence is completed in the heating plants.
The FNM head did not want to elaborate on the expected proceeds from the sale of the heating plants. “The yield will be generated based in an international transparent tender,” concluded Bubenikova. The FNM and the Ministry of Finance estimate the current market price of the heating companies at between EUR 160 million and EUR 200 million.
After approving the sale of the country’s six largest heating plants, the Cabinet should next deal with selling its 49 percent share in Slovak Telekom. As government privatization agency (FNM) Chairwoman Anna Bubenikova said, the Cabinet authorized FNM to elaborate an analysis which should definitively determine how Slovak Telekom and the state-owned stakes in SAD bus companies should be sold. “We will submit proposals for the individual sale of other properties to the Cabinet again,” said Bubenikova, adding that the Cabinet should first engage in selling Slovak Telekom. According to her, close coordination with the company’s management and the majority shareholder is essential.
SITA