Montenegrin Government looking for investor to finance EPCG’s takeover from A2A
The Government of Montenegro intends to buy shares of the Italian company A2A in power utility Elektroprivreda Crne Gore (EPCG) with the support of a financial institution, as well as to hire a legal advisor for assistance in privatization, Montenegrin media reported. Montenegrin Government has a stake of 51% in EPCG while A2A owns 41%. […]
Court unblocks A2A shares in Montenegrin power company EPCG
The High Court in Podgorica has decided to unblock shares of Italian company A2A in Montenegrin power company, Elektroprivreda Crne Gore (EPCG). The court previously blocked the shares of A2A over a proceeding against several former EPCG managers. Montenegrin media reported that the chamber presided over by the president of the Higher Court in Podgorica, […]
First payment to A2A for withdrawal from EPCG by May 2018
The Government of Montenegro intends to pay the first installment to the Italian company A2A for its shares in Montenegrin electric power company, Elektroprivreda Crne Gore (EPCG), before the deadline expires in May 2018. By then, the government will also examine other payment options foreseen by the contract with the Italian company, the Ministry of […]
Italian A2A appeals Montenegrin court’s decision to block its shares in EPCG
The Italian company A2A has appealed court’s decision to block its shares in the Montenegrin electric power company, Elektroprivreda Crne Gore (EPCG), Montenegrin media reported. The High Court in Podgorica, which blocked the shares due to the procedure against several former managers of the company, has confirmed to daily Pobjeda that A2A has appealed the decision. […]
Igor Noveljić appointed new executive director of Montenegrin power company EPCG
Former State Secretary at the Ministry of Economy of Montenegro Igor Noveljić has been appointed executive director of Montenegrin power company, Elektroprivreda Crne Gore (EPCG). On July 20, the EPCG Board of Directors accepted resignations submitted by outgoing executive director Tonino Maglio and three other Italian executives. They submitted the resignations in early July after […]
Blocking of A2A shares will not affect EPCG’s takeover, says Montenegrin government
The High Court of Montenegro has blocked shares of the Italian company A2A in Montenegrin power company, Elektroprivreda (EPCG), due to the legal procedure which has been conducted against several former managers of the company. The Montenegrin authorities claim that this will not jeopardize the takeover procedure launched in early July. A2A officially launched the […]
Italian A2A offers its EPCG shares to Government of Montenegro for EUR 250 million
The Italian energy company A2A has offered to the Government of Montenegro its shares in the Montenegrin power company, Elektroprivreda Crne Gore (EPCG) for EUR 250 million. A2A submitted to the Government of Montenegro the Put Option notice which refers to the sale of the whole stake owned by the Italian company in EPCG for […]