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Country has paid A2A €39,9 million for the shares of EPCG

Yesterday, Montenegro bought another 6,73% of the shares of Electric Power Company of Montenegro (EPCG) from the Italian company A2A, at a price of €39.923.744.

The purchase was made at Montenegro Stock Exchange in the block trade, and through Erste Bank. Around 8.826.438 shares of EPCG were bought at a price of €4,523.

This was the third transaction in relation to the Contract on the performance that stipulates that A2A is paid in four installments and all its shares in the EPCG are bought at price defined in advance – €230,6 million.

So far, more than €160 million have been paid to the Italians. EPCG is going to buy its shares from A2A once again in July and then Italians will definitely leave the ownership they acquired in 2009.

Break up of the partnership with A2A was initiated on 1st July, 2017. It was agreed then that shares would be paid €230,6 million instead of €250 million as previously determined.

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