VS Energy To Sell Oblenergos.
16 November 2008
The company will sell stakes of 90.5% to 95.2% in four companies: Khresonoblenergo (HOEN: N/R), Kirovogradoblenergo (KION: SELL), Sevastopolenergo (SMEN: BUY) and Zhytomiroblenergo (ZHEN: SELL). Potential buyers include CEZ (Czech Republic), AES (USA) and Enel (Italy). CEZ is ready to pay about USD 500 mln for the Oblenergos. Concorde Capital: The total implied MCap of these Oblenergos, if we use the 2001 privatization price as a benchmark, is USD 138 mln – a four-fold increase
