about us | newsletter | contact | archive | members area
Bogdan Badea, Hidroelectrica
There is a need for urgent cost optimization»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Suciu Popa assisted Enel in the acquisition of 13.6 per cent of E-Distributie Muntenia and Enel Energie Muntenia

Suciu Popa assisted Enel Investment Holding B.V. in finalizing the acquisition of 13.6 per cent of the share capital of E-Distributie Muntenia S.A. and Enel Energie Muntenia S.A., which increased Enel's interest in the two companies to 78 per cent.

2017-04-11 10:37:51

The acquisition of the additional 13.6 per cent share stake from SAPE SA, for a total consideration of about 400 million Euro, is a consequence of the exercise of a put option in November 2012. With the exercise of the put option, SAPE had asked for a price of about 520 million Euro, amount which was contested by Enel.

After failing to reach an agreement, in 2014 SAPE began arbitration proceeding before the International Chamber of Commerce in Paris, in which it lodged a claim for the above price and about 60 million Euro in interest. In its ruling of February 2017, the Arbitral Tribunal set the purchase price for the equity interests involved in the put option at about 400 million Euro, reducing the amount requested by SAPE by more than 100 million Euro and dismissing the request of interest.

Throughout this transaction, Enel was assisted by a Suciu Popa legal team coordinated by Miruna Suciu and Luminita Popa (managing partners), which also included Dan Ciobanu (partner), Roxana Fercala, Bogdan Ghera and Mihai Caragui.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  4776 Views
Daily Info
KeysFin: Multinationals control 60 per cent of the Romanian IT sector

Large foreign investors have reached a share of over 60 per cent of the local software industry, according to a study by local financial consultancy firm KeysFin.

Iohannis: Justice independence, public positions' integrity are constitutional values not to be negotiated

Promoting the rule of law and Justice independence, fighting against corruption, ensuring integrity in public positions and dignities are constitutional values that cannot be ...

EY Romania launches the START-UP Advantage program to support startups in technology

EY Romania and TechHub Bucharest are launching START-UP Advantage, a partnership through which technology startups will benefit from free consultancy in areas such as financia...

Construction works for the first pediatric oncology and radiotherapy hospital in Romania to begin with 8 million euro

Daruieste Viata Association is an NGO to start the construction works for the first pediatric cncology and radiotherapy hospital in Romania, in the court yard of the “Marie ...

Mega Image to continue expansion in Romania in 2018

Local retailer Mega Image will continue its expansion next year, according to Vassilis Stavrou, the general manager of the Mega Image operations in Romania.

 
 
   
advertising

advertising

advertising

advertising

advertising

advertising

More on News
Iohannis: Justice independence, public positions' integrity are constitutional values not to be negotiated

Promoting the rule of law and Justice independence, fighting against corruption, ensuring integrity in public positions and dignities are constitutional values that cannot ...

Garanti Leasing signs a loan agreement for 15 million Euro with EFSE

Garanti Leasing, part of Garanti Romania, has signed a loan agreement of 15 million Euro with the European Fund for Southeast Europe (EFSE). The facility is meant to increa...

Construction works for the first pediatric oncology and radiotherapy hospital in Romania to begin with 8 million euro

Daruieste Viata Association is an NGO to start the construction works for the first pediatric cncology and radiotherapy hospital in Romania, in the court yard of the “Mar...

Mega Image to continue expansion in Romania in 2018

Local retailer Mega Image will continue its expansion next year, according to Vassilis Stavrou, the general manager of the Mega Image operations in Romania.

Posta Romana auto park to increase by 180 units, following investment of 3 million Euro

Posta Romana auto park will increase by 180 units, out of which 80 cars of 3.5 tones will be functional this week, following that until the end of the month to be distribut...

Immofinanz closes the sale of the Russian retail portfolio

Immofinanz has successfully concluded the sale of its retail portfolio Moscow to the Russian FORT Group. The transaction closed in St. Petersburg.

CBRE: Bucharest university centres attract new business poles

Most new investments in office buildings have been concentrated around Bucharest's university centres, which have become increasingly attractive for real estate developers,...