A2A to exit Montenegro
Italian A2A is ready to part with its share of the Montenegrin main utility company Elektroprivreda Crne Gore (EPCG). A2A currently holds 41.7% of shares, for which it paid €434 million in 2009. The Montenegro government has a 57% stake and the right of first refusal (ROFR) for the A2A package valued at €250 million. Despite claims that the Pljevlja II project is not to blame for this parting, it certainly had a detrimental effect on the relationship between two partners.
Source: Poslovni Dnevnik