ESM DISTRIBUTION SOLD TO EVN OF AUSTRIA FOR EUR 225 MN
admin1 – March 17, 2006 – 10:38am
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EVN AG, the Austrian power distribution utility, bought ESM Distribution for 225 million euros. The company offered another 96 million euros for investments over the next three years. CEZ's offer of 181.5 million euros and 62.7 million euros investments came second and Italian Enel's bid of only 40 million euros and investments of 80.220 million euros was ranked third.

After the government meeting, at which the winning bid was selected, Prime Minister Vlado Buckovski stated that the Government was satisfied with the price considering that, according to the comparative analyses, that was the highest price in the region.

Immediately after the announcement of this decision, the opposition VMRO-DPMNE told citizens not to rejoice over the offered millions of euros because perhaps right after the elections, electricity rates would rise to match the bid.