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Govt pays 69 mil euros to buy A2A out

Govt happy with the discount

The Government of Montenegro paid today the first tranche of 68.9 million euros to the Italian company A2A and in this way, bought 17.252.885 shares in the Electric Power Company of Montenegro (EPCG).

This means that the state increased its 57.01% ownership in the EPCG to 70.16%, practically returning its stake to the level before the partial privatization and recapitalization in 2009.

The Ministry of Economy explained that the remaining shares will be acquired in two tranches (in July 2018 and July 2019) by EPCG themselves.

“The total amount for which the Government will buy shares from the Italian company is discounted from 250 million euros to 230.6 million euros”, the Ministry of Economy added.

 

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