Consortium Houlihan Lokey, Entrea Capital, White & Case and Kambourov & Partners to Advise Bulgarian Energy Holding on the Unbundling of its Electricity Generation and Transmission Assets
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.