Fortum and Contourglobal interested in stake in EPCG – Montenegro, 8 November 2017

According to Italian media, Finnish Fortum and US energy company Contourglobal are interested in the acquisition of 41.7 % stake in Montenegrin power utility EPCG that has been put for sale by Italian company A2A.
In July, A2A has offered its stake in power utility EPCG to the Montenegrin Government for 250 million euros. A2A submitted the put option notice in which it informs the Government that it intends to sell its entire stake in EPCG for 250 million euros. The amount is to be paid in seven annual installments starting at 1 May 2018. Press release from the Government said that by activating this option, the process of A2A’s withdrawal from the EPCG ownership has officially started, adding that A2A has no right anymore to block decisions presented by the state.

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