Continued cooperation with the Government of Montenegro and remainining of Italian company A2A in power utility EPCG has been assessed positively by Italian economic analysts, who believe the company will be profitable, writes daily newspaper Dnevne novine.
The article, republished by portal CdM, said it took almost a year to conclude a deal, so speculations and doubts arose. A2A will receive dividends and have a put option of EUR 250 million, EUR 330 million less than previously estimated, economy analysts from investment banking firm Equita stated. The same opinion is shared by analysts from Banca IMI, the article said. The investment bank’s analysis added that the new agreement gives A2A a stronger decision-making power and increased profits.
Bank Akros saluted the continued cooperation, but also stressed that the put option should be activated only after exhausting all other possible options for agreement. The share in EPCG was paid EUR 460 million in 2009 and the put option should be the last salvation, the analysis said. The government and A2A should, by the end of the year, enter into a new shareholders’ agreement regarding further management. A2A owns 41.7% while the government has 57% stake.