Russian State Co Eyes Bulgarian E.ON Power Utility - Report

Energy | November 23, 2011, Wednesday // 11:20|  views

German-owned E.ON is one of the three Power Utilities in Bulgaria. File photo

Russian state-owned Holding MRSK OAO is among the candidates for the Bulgarian and German stake at the German-owned Power Utility, E.ON Bulgaria, the Russian Kommersant daily writes.

MRSK (IDGC-Interregional Distribution Grid Company) Holding is a management company operating in the electricity sector of the Russian Federation, managing the inter-regional distributing electric networks.

Both MRSK and E.ON have declined any comments on the possible deal. Kommersant cites the MRSK CEO saying the company is interested in participation in foreign electric networks, particularly in Europe.

The daily quotes their own sources, saying that MRSK is considering an option to purchase close to 100% of the stake at E.ON Bulgaria, and had already sent an offer.

The main task of the Russian company is to guarantee secure energy supply to Russian consumers, but experts say it has problems with financing its investment program, thus such purchase will be irrational.

If the deal becomes reality, this would be MRSK OAO's first foreign asset.

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Tags: Russian, state-owned, Holding, stake, MRSK, German-owned, E.ON, Power Utility Bulgaria


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