Government plans to buy Italian company A2A’s stake in EPCG in a more favourable manner with the support of a financial institution it chooses. Thus, it would accelerate A2A’s withdrawal from the power company, the Ministry of Economy told Pobjeda.
“Government, with the support of a financial institution it chooses, intends to consider the possibility of defining a more favourable way of buying A2A’s shares in EPCG than the one defined by the put option will,” the ministry said.
Representatives of the ministry said that negotiations with several financial institutions were ongoing. When government makes the final decision on this issue, the public will be notified, the ministry added.
Last week, the Privatisation Council adopted the Information on the status of privatisation of the Electric Power Company of Montenegro stating that the procedure for partial privatization of the power company has not been completed because the “put option”, which A2A activated in July this year, returned earlier sold EPCG shares back to state ownership.
It was said that the Ministry of Economy was considering possible options to accelerate A2A’s withdrawal from the EPCG ownership structure, which would not additionally burden the public finances.
The “put option” implies that the government takes over all A2A shares in EPCG for €250m in seven annual instalments.
