CAIRO: Italy s second biggest power producer Edison SpA may sell a 25 percent stake in an Egyptian gas field, the company s chief executive said on Thursday.
Umberto Quadrino also said a 10 percent stake of Edison itself could be sold, confirming speculation that the company, jointly controlled by A2A and France s EDF, could be reorganized.
Edison shares rose this week on speculation financier Romain Zaleski may sell his stake to A2A or to both A2A and EDF.
There is a chance that a 10 percent stake may be for sale in the near future and I don t see any problem to find buyers for this, Quadrino said, without giving any further details.
Quadrino said there had been discussions about selling a 25 percent stake in the offshore Abu Qir gas field, which Edison agreed to buy last year for $1.405 billion.
If the price is good and it makes sense, why not? he said. No decision has been taken at this moment.
Quadrino said EDF was among parties that may be interested in buying the stake in Abu Qir, without giving details.
Edison has said the concession produces around 1.5 billion bcm of gas per year and 1.5 million barrels of oil, with a 20-year duration which could be extended another 10 years.
