LJUBLJANA (Slovenia), February 27 (SeeNews) – Slovenian energy group Petrol [LJE:PETG] said it has signed an agreement for the acquisition of 100% interest in electricity distributor E3, a unit of local state-controlled electricity distribution company Elektro Primorska.
The transaction will be completed after suspensive conditions have been fulfilled, among which is obtaining consent from Slovenia's competition authority, Petrol said in a statement filed with the Ljubljana Stock Exchange on Wednesday.
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Petrol intends to continue developing the business of E3 and to retain the existing jobs, it added.
Last week, news portal Finance.si reported that Elektro Primorska has decided to sell E3 to Petrol for some 15 million euro ($16.3 million).
Nova Gorica-based E3, active in western Slovenia, is one of the largest electricity distributors in the country.
In December, state news agency STA reported that Elektro Primorska had received three bids in the tender for the sale of E3 - from Petrol, Slovenian energy group GEN-I and state-owned electricity producer Holding Slovenske Elektrarne (HSE).
STA reported earlier this month that following the E3 acquisition, Petrol will control 20% of Slovenia's electricity retail market.
($=0.91926 euro)
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