Enel won a tender for the state's 66 percent stake in SE last year after offering the highest amount, 840 million euros (1.1 billion dollars). The closing of the deal had been delayed as the two sides had failed to reach agreement over the precise conditions for several weeks. The Slovak government had insisted that Enel agree to carrying out an analysis on completing the Mochovce nuclear power plant. Slovak Economy Minister Pavol Rusko has said he wants the new owner to complete two more blocks at SE's Mochovce nuclear power plant, although the completion was not a condition of the sale. Enel must also present its investment plan for SE by the end of June. Ministry spokesman Maros Havran said the contract would be signed by Rusko and Enel President Paolo Scaroni, after which Enel would pay 30 percent of the price, 252 million euros. The rest, he said, would be paid after the process was completed. SE accounts for more than 85 percent of Slovakia's electricity production, operating three nuclear, two coal-fired and 34 hydroelectric power plants. SE said Monday that its net profit grew by one third in 2004 to 1.73 billion Slovak koruna (45 million euros, 59 million dollars) although its sales dropped by 510 million koruna to 55.08 billion koruna. While electricity sales on the domestic market dropped by about four billion koruna, electricity exports rose and it managed to reduce its costs, the company's general director Miroslav Rapsik told a press conference. SE raised electricity output in 2004 by 0.98 percent year on year to 25,575 GWh, two-thirds of which was generated by its nuclear power plants. Rusko said the company's sale should be completed in the second half of this year. The government will retain a 34 percent stake. PIN//AFP