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A2A paid €436m for shares, now is leaving with €244m

Igor Noveljić (Foto: Portal analitika)

Claims that the paid dividend from the profit of the Electric Power Company of Montenegro, EPCG, means the Italians “were given more than needed” are total nonsense, Igor Noveljić, executive director of the EPCG told in an interview with Pobjeda daily.

“In 2009, the Italian Regulatory Authority for Electricity and Gas, A2A, purchased shares in the amount of €436m. Their withdrawal has been agreed for €250m, and the agreed accelerated withdrawal from the EPCG ownership structure, even we count the paid dividend, won’t exceed €244m. Therefore, we haven’t given them more than needed and the deal has been well negotiated,” noted Noveljić.

Noveljić reminded of the session of the EPCG shareholders assembly held 2 days ago, when its members made the decision to pay a divident from generated profit amounting to €55m.

“The dividend will be paid to the state, ie to the state’s budget in the amount of €35.3m (net value), and the A2A will get €14.3m.”

“It’s completely logical the EPCG to make this payment, having in mind our results and financial situation,” Noveljić concluded.

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