SOFIA, March 19 (Reuters) - Enel, Italy's biggest utility, is in advanced talks to sell its majority stake in a Bulgarian thermal power plant to a European investor, Bulgaria's economy and energy minister said on Friday.
Traicho Traikov said Enel, which owns 73 percent of the 908 megawatt coal-fired plant, has informed the Balkan country, which keeps the remaining stake, about the planned sale.
'At the moment they have quite advanced in their talks with a potential investor. It has happened quite fast,' Traikov told reporters.
He did not elaborate and declined to name the potential buyer.
On Thursday Enel's chief executive Fulvio Conti said the company had started a process to sell its Bulgarian operations.
Bulgarian media reports have said British utility International Power has shown an interest in the plant, based in the lignite coal complex Maritsa East in southern Bulgaria.
Bulgaria also plans to sell its stake either to the same buyer or through a listing on the Bulgarian Stock Exchange, Traikov said.
Last February Enel completed a 700 million-euro ($952.8 million) upgrade of the plant, boosting its capacity and environmental standards.
($1=.7346 euros)
(Reporting by Tsvetelia Tsolova; Editing by Greg Mahlich) Keywords: ENEL BULGARIA/SALE (tsvetelia.tsolova@thomsonreuters.com; +359-2-939-97-31; Reuters Messaging: tsvetelia.tsolova.reuters.com@reuters.net)) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Traicho Traikov said Enel, which owns 73 percent of the 908 megawatt coal-fired plant, has informed the Balkan country, which keeps the remaining stake, about the planned sale.
'At the moment they have quite advanced in their talks with a potential investor. It has happened quite fast,' Traikov told reporters.
He did not elaborate and declined to name the potential buyer.
On Thursday Enel's chief executive Fulvio Conti said the company had started a process to sell its Bulgarian operations.
Bulgarian media reports have said British utility International Power has shown an interest in the plant, based in the lignite coal complex Maritsa East in southern Bulgaria.
Bulgaria also plans to sell its stake either to the same buyer or through a listing on the Bulgarian Stock Exchange, Traikov said.
Last February Enel completed a 700 million-euro ($952.8 million) upgrade of the plant, boosting its capacity and environmental standards.
($1=.7346 euros)
(Reporting by Tsvetelia Tsolova; Editing by Greg Mahlich) Keywords: ENEL BULGARIA/SALE (tsvetelia.tsolova@thomsonreuters.com; +359-2-939-97-31; Reuters Messaging: tsvetelia.tsolova.reuters.com@reuters.net)) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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