Business / Industries

CNNC plans to bid for Slovakian nuclear power plant

By LYU CHANG ( Updated: 2015-06-30 16:09

China National Nuclear Power, known as CNNPC and part of one of the country's two State nuclear reactor builders, said on Monday that its parent company China National Nuclear Corp plans to bid for Slovakian power generator Slovenske Elektrarne.

In a statement, CNNPC said that Italy's biggest utility Enel is considering selling its 66 percent stake in the Slovakian nuclear power plant.

CNNC is interested in buying the stake but the company has not yet hired a financial legal team, according to the statement.

The debt-ridden Italian company is seeking to sell the nuclear power plant as part of a plan to offload 5 billion euros ($5.6 billion) of assets to fund growth.

But a dispute over the plant with the Slovakian government, which is interested in raising its 34 percent stake, has slowed the sales process.

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