4 July 2002 – RWE Plus, the electricity sales subsidiary of German energy group RWE, is acquiring an initial 49 per cent stake in VSE, the Slovakian regional power supplier, which is undergoing privatisation. The relevant agreement has now been signed. The German company, which offered €130m for the share package, also has a call option on the remaining shares.
VSE last year showed turnover equivalent to €256m from power sales. It counts more than 600 000 customers, and has a share of roughly 22 per cent of the Slovakian power market.