Venezuela announces 12 bidders for Enelven and Semda power firms

Aug 03, 2000 02:00 AM

The Venezuelan Investment Fund (FIV) has announced eight pre-qualified bidders for a 51 % stake in the Enelven power firm and four bidders for 51 % of the Semda electricity company. The FIV said in a statement that it expects to announce the winning bidders at the end of November.
The bidders for Enelven include US-based AES Corporation, US-based CMS Electric and Gas Company, Argentina's Perez Companc, Venezuela's Enerzul, Electricidad Enron de Venezuela, Venezuela's LTD, Spain's Union Fenosa de Desarrollo y Accion Exterior, and Spain's Iberdrola Energia.
Enelven is located in the oil-rich state of Zulia. Meanwhile, AES, Venezuela's Empresa Suroriental de Energia, Perez Companc, and Union Fenosa will bid for Semda, located in eastern Venezuela in Monagas state.
The FIV said AES will not be able to make an "independent offer" for either company because it has a majority stake in Electricidad de Caracas (EDC) and Enerzul, a regional electricity company. Venezuela's electricity law prevents the emergence of monopolies in the market.

Source: Bridge News via Newspage
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