Italian energy company Edison SpA (EDN.MI) has received interest from at least three parties for a stake in the Egyptian natural gas field Abu Qir field, Chief Executive Umberto Quadrino said Friday.
"At least" three parties have shown interest in a stake in Abu Qir, but more are expected soon, Quadrino said on a conference call to comment on the firm's first-half results. He didn't name the parties.
Edison's chief executive added that the Milan-based company is ready to sell a stake of between 25% and 40% in Abu Qir, depending on the offers it receives.
Quadrino said he expects the stake sale to be agreed toward the end of the year or the start of 2010.
Separately, Edison isn't yet planning to tap into the bonds market again after last week's successful sale of bonds worth EUR700 million, the chief executive said on the conference call.
Edison received requests worth more than EUR7.2 billion for its bonds last week.
The energy company doesn't exclude returning to the bond market if the conditions are right, he said.
Edison expects to have net debt of around EUR4 billion at the end of the year, compared with the EUR4.36 billion it reported earlier Friday, the chief executive added.