A2A to Sell 41.7% Stake in Elektroprivreda Crne Gore for USD285.5 Million

Published: Jul 03 2017
Deal Summary

A2A S.p.A., a power generation company, has agreed to sell 41.7% stake in Elektroprivreda Crne Gore AD Niksic (EPCG), a power generation, transmission, and distribution company, for a purchase consideration of EUR250 million (USD285.53 million).

A2A has served the Government of Montenegro with the put option notice related to the sale of the whole stake owned by A2A in EPCG.

Earlier on May 18, 2017, Reuters, citing three sources with knowledge of the matter, reported that Montenegro intended to acquire 41.7% stake in EPCG from A2A for a purchase consideration of EUR250 million (USD277.83 million). According to the Reuters, A2A has an option to sell its stake in EPCG to the government between June and September 2017. The option was negotiated by the new management team that took the helm at A2A in 2014. A2A is working with investment bank Rothschild & Co to sell its stake in EPCG.

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