Since the partial privatization of the Slovak gas industry in 2002, E.ON and French power group GDF Suez have held an interest in SPP through Slovak Gas Holding (SGH).
Czech energy company EPH will acquire 100% of the share capital of SGH. The divestment is expected to be finalized in the coming weeks.
Commenting on the transaction, E.ON chief executive Johannes Teyssen said with the company has sold interest in SPP as a part of its divestment target which it achieved ahead of schedule.
"Our refocus in Europe has been conducted swiftly and has generated very attractive proceeds," Teyssen added.
"But even after the sale of SPP we’ll remain active in the Slovak energy market, where we supply roughly one million customers and operate a power distribution grid over 35,000 kilometers in length through our stake in Západoslovenská energetika (ZSE)."
Based in the Slovakian city of Bratislava, SPP is fully-integrated in the European gas pipeline system and employs about 4,000 persons.
