Norway's Statkraft Interested in Strategic Partnership with Montenegro's EPCG - Media

Statkraft is following closely the preparation of a tender for a strategic partner for EPCG and will take steps to participate, Republika quoted the director of Statkraft Montenegro, Roar Alme, as saying.

The Montenegrin government plans to increase EPCG's capital by offering 300 million euro ($405 million) in new shares to a strategic investor. The company's capital stands at 992 million euro. Following the capital hike, the state-owned stake will fall to 55% from 70.6% and the balance will shift to the small shareholders.

Belgium's Electrobel, Slovenia's HSE, Austria's Verbund, Czech CEZ, Germany's RWE, as well as Italian and Hungarian firms, have expressed interest in becoming a strategic partner to EPCG.

The tender is to be called in December, according to Republika.

Last week the Montenegrin government hired Croatia's UniCredit Markets & Investment Banking -Zagrebacka Banka to advise the planned sale of the 22% stake.

EPCG should also shortly prepare tender documentation for the construction of a new thermal power plant, estimated at 170 milion euro under a joint venture scheme.

($ = 0.7415 euro)