HomeDecentralized EnergyBulgaria to privatise stakes in energy companies

Bulgaria to privatise stakes in energy companies

The Bulgarian government is to sell off the stakes it owns in the country’s three energy distribution companies ” EON Bulgaria, EVN Bulgaria and CEZ Bulgaria.

The government holds a 33 per cent stake in each of the companies but wants to privatise all shares by the end of the year.

To facilitate this, the Bulgarian Stock Exchange is heading a delegation that next month will visit the financial centres of Frankfurt, London, Vienna and Zurich to drum up investor interest.

In 2004, Bulgaria privatised 67 per cent of the country’s energy distribution network to Germany’s E.ON, Austria’s EVN and the Czech Republic’s CEZ for EUR 693m ($924m).