Romanian Electrica Asks E.ON For EUR50M In Damages
Romanian state-owned electricity distributor Electrica asked German utility group E.ON to pay damages worth EUR50 million within a litigation initiated by E.ON in the International Court of Arbitrage in Paris.
E.ON sued Electrica in July 2011, claiming the state-owned company refuses to sell the remaining shares in Electrica Moldova, which E.ON took over. Electrica replied saying it can only sell a 17% stake, since the remaining 10% of shares are reserved for employees.
Contacted by MEDIAFAX, E.ON representatives confirmed there is an ongoing procedure in the Court of Arbitrage, but no further comments were made.
The privatization contract for Electrica Moldova states a mutual sale-purchase option for the stake held by Electrica. The option can be exercised between 2008 and 2012, by any of the two companies.
Citește și
3 min
Rareș Udrescu
3 min
Rareș Udrescu
5 min
Cristian Hostiuc