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Power utility EPS eyes multiple acquisitions in SEE - Serbia's president Vucic

Author Radomir Ralev
Power utility EPS eyes multiple acquisitions in SEE - Serbia's president Vucic Source: Pixabay

BELGRADE (Serbia), July 8 (SeeNews) - Serbian state-owned power utility Elektroprivreda Srbije (EPS) is interested in expanding throughout Southeast Europe (SEE), Serbian president Aleksandar Vucic said.

EPS is ready to acquire multiple assets in the region as the government wishes to strengthen the company and make it the largest power utility in the Balkans, Vucic said in a video file published on the website of news agency Tanjug on Sunday.

"This is often a political question and many countries do not wish to sell to us even if we have the money. On the bourse, we acquired 11% of the Montenegrin power distribution system," Vucic said.

According to data from the Montenegro Stock Exchange, Serbian power system operator Elektromreza Srbije (EMS), a unit of EPS, controls a 10.0141% stake in the capital of Montenegrin sector player CGES [MNE:PREN].

Serbia's government said in July 2018 it plans to change the legal status of EPS to a joint stock company in 2020, aiming to improve the viability of EPS.

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