EVN Wins Toplofikatsia Sofia Privatisation Tender

18. Oktober 2006, 00:00

The Bulgarian Privatisation Agency singled out Austrian company EVN as the winner of the tender for Sofia district...

The Bulgarian Privatisation Agency singled out Austrian company EVN as the winner of the tender for Sofia district heating company, Toplofikatsia Sofia. The deal will be finalised within the next two months.

EVN offered EUR 32.1 million for a majority stake and thus denied the competition of rival Dalkia International of France, which offered EUR 7 million less.

The Austrian company already owns the heating utility in Bulgarias second-largest city, Plovdiv.

Meanwhile, the Economy and Energy Minister Rumen Ovcharov started an investigation against EVN on evidence it inflated the electricity bills of clients in Plovdiv and Stara Zagora.

The sell-off of Toplofikatsia Sofia started immediately after being declared insolvent and a string of uncovered instances of funds misuse. Its former head is now in jail on charges of money laundering.

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