English

A2A shares redemption to be included in budget revision, Sekulic

Dragica Sekulić

In an interview with Pobjeda, Montenegrin economy minister, Dragica Sekulic, said the aim of negotiations between the Ministry of Economy and several financial institutions was to return A2A’s shares in the power-utility company, EPCG, to the state property, as soon as possible. She reminded of the contract, which stipulated the state is to pay €250m in seven annual instalments.

Sekulic emphasized that the repurchase model would be the same as the one determined by the existing contract, i.e. the state would have to pay off instalments to the engaged financial institution, which would repurchase A2A’s shares in EPCG.

“This means the state would become an immediate owner of all 41,7% shares and immediate withdrawal of the Italian A2A company from EPCG as well,” stated Sekulic. She stressed the government left space in the narrative part of the 2018 budget for defining the exact amount for repurchase of shares, which is to be introduced as a proposal when the final decision on redemption model for A2A shares is to be made.

Minister Sekulic added, in 2018, the government would continue with supporting Montenegrin economy.

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