Montenegrin Government Buys up EPCG Shares for EUR14.33m  | Beta Briefing

Montenegrin Government Buys up EPCG Shares for EUR14.33m 

Source: Beta/Vijesti
SEE Business / Montenegro | 02.12.19 | access_time 08:55


Montenegrin Ministry of Finance on Nov. 29 bought up in a block trade on the Montenegrin Stock Exchange a total of 3,202,845 shares of power utility EPCG, owned by Italian company A2A, for EUR14.33m, several sources have told daily Vijesti. 

The Italians have about 0.53% (or about 636.8 thousand) shares in the EPCG, which, according to unofficial information, will be bought up sometime in December. 

The buy up of the remaining EPCG shares from A2A, assuming that the Nov. 29 average price of around EUR4.47 remains, will require roughly EUR2.85m.

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