NAFTA GBELY group, SLOVAK REPUBLIC – “I. PHASE OF RESTRUCTURING”
Within the framework of advisory for RWE Gas, EEIP advised during 2001-2002 on restructuring of Nafta Gbely . RWE Gas acquired 40% shareholding of Nafta Gbely (see also Consultancy for Nafta Gbely acquisition), a special service company for SPP advised by EEIP,a.s and WestLB. At over 1.3 billion Slovak crowns, it was one of top five foreign investments in the Slovak energy industry. The acquisition of 40% shareholding from the fragmented Slovak shareholders into hands of strong international utility was successfully completed in February 2001.
During the years 2001 – 2002 RWE Gas advised by EEIP, initiated first phase of Nafta´group corporate restructuring plan accepted also by state-owned SPP (56% shareholding). EEIP helped in redesigning of the overall Nafta Group corporate organizational structure in order to streamline Nafta´s decision making, get rid of loss producing activities, take out the cost reduction potential plus to maintain and enhance Nafta’s competitiveness. The main task of the mandate was to create from the parent company Nafta a.s. Gbely a strategic-financial-control and administration centre.
As a part of its post-acquisition mandate EEIP advised in the restructuring process of Nafta as an advisor of the only major foreign investor RWE which together with the company’s management initiated the restructuring. EEIP produced number of studies with respect to the financial optimization.
In addition, EEIP acted in the implementation of the plan when M.Mejstřík served as a permanent guest at the parent Nafta´s Board of Directors Meetings on behalf of RWE Gas from 2001 until 2002.
