JESS is a joint venture between the state-owned Nuclear and Decommissioning Company (JAVYS), which holds a 51-percent stake, and Czech energy group ČEZ, which owns 49 percent of the company's shares. The state intends to buy out the Czech company's shares in order to gain full control over the project for a new nuclear power station at Jaslovske Bohunice (Trnava region).
ČEZ is offended by speculation in the media suggesting that there may be irregularities surrounding the sale of its stake in JESS, the company's chief spokesperson Ladislav Kříž stated on Tuesday, adding that such claims are damaging to the company, which is traded on international markets, and it's therefore considering legal action against those who are spreading them.
"The valuation was carried out by international audit firm EY, which was selected by the JESS board of directors following a process agreed upon by both shareholders. EY valued ČEZ's stake in JESS at €189 million. Both JESS shareholders subsequently approved this valuation. The transparency of the process and the valuation have also been confirmed by the Slovak Finance Ministry," said the spokesperson, adding that the company sees no room for speculation.
Kříž explained that ČEZ 's original investment in JESS in 2009 was €116.6 million, but that these funds have since appreciated in value. "The project has made significant progress," he stated.
The Economy Ministry stated on Monday (17 August) that the process of settling ownership rights in JESS hasn't yet been concluded, primarily due to differing views on the price that Slovakia should pay to ČEZ. The valuation of the stake, which is reportedly €90 million higher than its book value, has also been criticised by several opposition politicians.
Premier Robert Fico (Smer-SD) stated on Monday that the ownership arrangements in JESS must be settled in September. According to him, the Economy Ministry has caused delays, and responsibility for the process must therefore be gradually transferred to the Government Office. Fico said in June that the settlement with ČEZ must be based on an expert opinion from a renowned foreign auditing company. According to him, he trusts such an assessment, as a successful company wouldn't risk its reputation.
According to Hlas, if the process of buying out ČEZ’s stake in JESS is to continue under the auspices of the Economy Ministry, it is essential that the price should be confirmed by an independent international expert valuation, and if Premier Robert Fico (Smer-SD) and the Government Office are in a better position to negotiate the best possible price for Slovakia, Hlas-SD is prepared to approve the transfer of this task to the government without delay.
"Hlas supports the construction of a new nuclear power plant because it's important in terms of Slovakia's energy self-sufficiency. However, in these difficult times of consolidation, the public needs to know that the state intends to pay a reasonable, fair and transparent price for its development, without any suspicion that it's overpriced," the party emphasized.
Source: TASR
