Czech Energo-Pro boosts stakes in Bulgarian power units
SOFIA, Oct 4 (Reuters) - Czech power firm Energo-Pro has boosted its stakes in two Bulgarian power distribution units to over 84 percent after Bulgaria auctioned most of its 33 percent holdings in them, the company said on Thursday.
The Balkan country sold 99.8 percent of 930,270 shares it held in Energo-Pro Grid and Enegro-Pro Sales in the first two days of a public share offering via the Sofia borse, raising 67.6 million levs, equivalent to $43 million.
The sale, which began on Wednesday, will remain open until November 2.
The Czech firm bought 67 percent of the two companies, which provide electricity to 1.1 million customers in northeastern Bulgaria from Germany's E.ON , in June.
In a statement, the company said its stakes in Energo-Pro Grid and Energo-Pro Sales have now increased to 94 percent and 84 percent, respectively. It said it did not plan to make tender offers to the remaining shareholders in the coming months.
Shares in Energo-Pro Sales last traded at 14.500 levs by 1132 GMT on Thursday, when more of the remaining 55,262 shares held by the state were offered, while Energo-Pro Grid changed hands for 150 levs, according to Thomson Reuters data.
Some 1,466 shares in the two companies are to be offered on Friday.
Sofia also plans to sell stakes in energy distributor CEZ Bulgaria, controlled by Czech group CEZ next month.
($1 = 1.5160 Bulgarian levs) (Editing by Catherine Evans)
Keywords: BULGARIA ENERGOPRO/SALE