Transfer of assets to Kosovo Çalik Limak Energy – KEDS is completed

The Government Privatization Committee (GPC) of the KEDS privatization project, in its meeting convened on Wednesday, completed the transfer of 100 percent of shares to Kosovo Çalik Limak Energy – KEDS, pursuant to the Share Sale and Purchase Agreement. 
After the statement of IFC, acting as the Transaction Advisor, ministers represented in the GPC decided that all conditions precedent for completing the Share Sale and Purchase Agreement have been fulfilled. Also, being the control change request was approved by the Energy Regulatory Office (ERO), as of today Kosovo Çalik Limak Energy, effectively takes over ownership and management of KEDS.
According to the transaction agreement, Kosovo Çalik Limak Energy will invest 300 million euros in the country’s electricity distribution grid. Moreover, the Government of Kosovo guarantees employment and working conditions for all transferred employees.

energjia.al, 10.05.2013