Podgorica, (MINA-BUSINESS) – In a transaction worth €51.66 million, carried out on Montenegro Stock Exchange, Elektroprivreda (EPCG) has acquired 13.05 million of its shares from Italy’s A2A.
This is a 9.95 percent stake in the EPCG, which now holds, together with the state, a controlling interest of 80.1 percent in this power company.
According to sources of Mina-business agency, Hipotekarna banka acted as an intermediary in this transaction for the EPCG, while A2A’s intermediary was Erste Bank.
On 20 August, the EPCG shareholders authorized the company to buy back 13.05 million of its shares from its shareholder A2A at the price of €3.96 per share.
On the basis of a put option contract, the Government paid the first tranche of €68.9 million to A2A for 17.25 million shares of the EPCG.
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