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MOL, MVM bid for majority stake in Slovenske Elektrarne

Pharma

Hungarian oil and gas company MOL announced today that its Slovakian unit Slovnaft and Hungarian state-owned Hungarian Electricity Works (MVM) made a joint non-binding offer for a 66% stake in Slovakia's biggest electric energy company, Slovenske Elektrarne, which is currently owned by Italian ENEL, Hungarian news agency MTI reported.  The remaining 34% of Slovenske Elektrarne is currently owned by the Slovakian state.

MOL said the business partners aimed to create a synergy to boost energy security in the region, increasing efficiency through economy of scale and "significantly raising the profitability of all of the affected companies".

The powerplant of Slovenske Elektarne has a capacity of 5,739MW and supplies approximately 80% of the Slovakian market's electricity. 

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