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Thursday, June 07, 2012
HOULIHAN LOKEY-LED CONSORTIUM TO ADVISE BULGARIAN ENERGY HOLDING ON THE UNBUNDLING OF ITS ELECTRICITY GENERATION AND TRANSMISSION ASSETS
Transmission assets to be transferred to a separate legal entity under the requirements of European Union’s Third Energy Package
LONDON and SOFIA – June 7, 2012 – An advisory consortium led by international investment bank Houlihan Lokey, that includes White & Case, Entrea Capital, and Kambourov & Partners (the Consortium), has signed a consultancy contract with the state-owned Bulgarian Energy Holding (BEH) for the preparation and execution of business separation and debt restructuring plans, pursuant to the unbundling of the transmission assets from Bulgaria’s National Electricity Company (NEC) to the independently owned Electricity System Operator (ESO).
The unbundling of the transmission assets from the generation assets will be completed upon the transfer of the former to ESO and the subsequent certification of ESO as an Independent Transmission Operator (ITO), as required by the European Union’s Third Energy Package. The unbundling of transmission system operators should not only promote effective competition in the energy markets, but should also lead to greater security of supply within the European Union.
“This project is of vital importance to the Bulgarian energy industry and we look forward to contributing the combined expertise of the Consortium to help complete the project as quickly as possible,” said Max Ziff, a Managing Director at Houlihan Lokey and project manager for the consultancy contract.
Houlihan Lokey is an international investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, and valuation. The firm serves corporations, institutions, and governments worldwide with offices in the United States, Europe, and Asia. Independent advice and intellectual rigor are hallmarks of our commitment to client success across our advisory services. Houlihan Lokey is ranked globally as the No. 1 restructuring advisor, the No. 1 M&A fairness opinion advisor over the past 10 years, and the No. 1 M&A advisor for U.S. transactions under $3 billion, according to Thomson Reuters.
For press inquiries, contact John Gallagher at 212.497.4220.
It is not known whether the listed clients approve or disapprove of Houlihan Lokey or the advisory services provided.