Forty companies from around the globe will be invited to participate in the market test for PPC’s lignite plants, which will be conducted by the European Commission’s Directorate for Competition.
The goal is to complete the “market investigation” process by the end of January and the tender will be launched by the end of May by the PPC, which is already starting the procedures for recruiting six consultants to support the process.
The companies to be approached by the DG for Competition include electricity companies from the USA, Japan, China, the Czech Republic, Poland, Greek electricity generating competitors of PPC, as well as Greek big consumers, energy-intensive industries, that PPC Chairman and CEO Manolis Panagiotakis called on, from the conference of the Greek-American Chamber, to take part in the acquisition of the units.
The aim of the market test is to show whether the interest of the market is focused on all the units (Megalopolis 3 and 4, Florina 1 and license for the construction of a second unit at Megalopolis) or separately in North and South packages, if there is a special interest in lignite mines, etc. It can not, however, change the ‘basket’ of units available for sale.
Within the month, legislation is expected to speed up the procedures required by the PPC for the recruitment of consultants and the implementation of privatization.
A total of six consultants shall be recruited: legal, financial, brokerage adviser, and valuation of units and mines, as well as reasonable and fair value.
PPC’s preparation includes, in addition to the tender notice, the general meeting of shareholders approving the transactions as well as the establishment of the companies to which the units and mines will be transferred.
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Source: newgreektv.com
