Dear Sirs,

I am approaching you in connection with an article published on the website bivol.bg under the headline “Who Acquired Électricité de France Hydro Power Plants near Sofia for EUR 16 million?” on Saturday, October 27, 2018. https://bivol.bg/edf-akuo-bg-1.html

I would like to state that Saga Commodities JSC has no involvement in the deal.

At the end of the article, you claim that “In any event, if this was not the case, the buyers Akuo Energy Bulgaria (90%) and Saga Commodities (10%) would hardly change the creditor bank at the last minute.”

In this regard, I declare that Saga Commodities is not a party to this deal; it is not a buyer and there is no 10% participation. I insist that this sentence be removed from the article immediately.

I insist on the removal of another statement about Saga Commodities, namely “Saga Commodities which deals with emission quotas and is linked to the owners of the “Vidahim” and the “Svishtov” (formerly “Sviloza”) TPPs” because this is a falsehood.

By the date of publication of the article, Saga Commodities does not trade emission quotas, as evidenced by the subject of the company’s activity in the Trade Register, as well as by the presentation of our activity on our website. I would also like for you to remove the part in which Saga Commodities is linked to the owners of the “Vidachim” TPP and the “Svishtov” (formerly Svilosa) TPP, as this is again a false statement because we have no legal relations with these companies.

You quote the article of Capital titled “The EDF Giant Is Leaving: The French company is selling its water assets in Bulgaria“, but you fail to note that in the article there is a published rebuttal by Saga Commodities – “After the closure of the publication, the Commercial Director of Saga Commodities, Nevena Petrova, sent a letter stating that the company had nothing to do with the sale of EDF’s hydro power plants.” The article cited is not from 2015, but from November 2016.

We await your public apology for publishing unverifiable and misleading information.

In the future, if you intend to write about the activities of Saga Commodities, please contact our office in advance and check in more detail the truth of the statements you post as this is our expectation of objective and professional journalism. Our contacts are fully available on the company’s website.

Respectfully,

Nevena Petrova

Business Development and Administration Manager

Member of the Managing Board of Saga Commodities

 

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