Serbia: Lazard advises power utility EPS on regional acquisitions

, News Serbia Energy

Lazard advises Serbian power utility Elektroprivreda Srbije EPS on regional expansion, mergers and acquisitions projects in South East Europe.

Serbian power utility company Elektroprivreda Srbije restructuring process is managed by famous consultancies BCG and Arthur D Little. A process followed by key stakeholders monitoring the public sector reform, the IMF & WB together with EBRD which already confirmed its engagement with 200MEUR loan for financial restructuring of EPS problems. Beside this big names EPS contracted also famous financial consultant Lazard which will assist EPS in future acquisition strategy which is part of overall business development strategy of EPS.

The Electric Power Industry of Serbia (EPS) announced that French company Lazard Freres was selected to be a financial consultant of the company in potential takeover affairs.

Lazard ranked as the best bidder at the tender for the selection of a consultant which EPS released. The contract in value of 1,17MEUR will cover Lazard know how. Lazard entered Serbian market earlier with consultancy contract with leading state owned TelCo privatization project.

Earlier medias speculated that EPS as well as HEP Hrvatska elektropivreda (the Electric Power Industry of Croatia) is interested in takeover of Elektroprivrede Crne Gore (the Electric Power Industry of Montenegro). In the meantime A2A decided to stick with its Montenegro project EPCG power utility but left the exit option, which leaves a takeover angle for bidders like HEP, or EPS. HEP also started talks with Slovenian GEN-I on takeover of their shares in NPP Geni energy holding, transmits