All parties again invited to begin proceedings after failed G-8 privatization

The Treasury Ministry yesterday invited potential investors for the G-8 power distribution group to yet again conduct due diligence on the company. The invitations were extended to the five bidders who were shortlisted in the tender almost two years ago, namely Electrabel of Belgium, Endesa and Iberdrola of Spain, El-Dystrybucja, ESB of Ireland and Germany's E.ON. The latter company had been selected for exclusive negotiations, but E.ON's final bid, at almost 40% less than the initial euro 1.7 billion valuation of the company, was deemed unsatisfactory by the Treasury Minister. The new invitations to conduct due diligence mean that G-8 privatization will not be concluded for at least another six months. (Puls Biznesu, p. 10) T.J.