Czech company EPH struggles for E.ON’s Italian assets

12/12/2014 10:19 Electricity Market

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Privately-held Czech energy group EPH would like to acquire several Italian assets put on sale by German utility E.ON, potentially pitting it against France’s EDF in a 2 billion euro ($2.5 billion) battle, as stated on Thursday by two sources familiar with the situation.

Edison, an utility based in Italy, possessed by French electricity giant EDF, remains interested in E.ON's Italian operations, said a source close to the matter. Another source considers that EPH might purchase only gas turbine assets. According to the source, if no single acquirer for all of the assets appears, E.ON would vend the business in fragments. Earlier this month, E.ON made known about the sale of its Spanish assets to Macquarie for 2.5 billion euros. Italian companies like Hera and Gala have made offers for E.ON's client portfolio. Energy group Erg and infrastructure fund F2i have bid for the renewable assets. Meanwhile, China’s Shanghai Electric Power at the beginning of the month said that it was in initial contact with E.ON over the potential acquisition of the German utility's Italian coal assets, which the Chinese company estimated at150 million euros. In November, EPH decided to purchase the 2,000 MW Eggborough coal-fired power plant from Eggborough Power Limited, making its first acquirement in Britain.

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