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  |  4837 Views
Daily Info
EIB offers Romania 13 billion Euro financing in 25 years

The European Investment Bank (EIB) has granted Romania 13 billion Euro worth of loans since starting its operations in the country, in 1992, according to a report of the insti...

Germanos stores in Romania rebrand into Telekom

Telekom Romania, the second-biggest telecom group on the local market, has started the rebranding process of the Germanos shops into Telekom.

OMV Petrom doubled its profit last year

OMV Petrom had a 2.49 billion RON profit in 2017, more than double than it had recorded in 2016 (1.04 billion RON), according to a report by the company.

Complet Electro Serv appoints Cristian Laza as new CEO

Complet Electro Serv, part of Altex Romania, has appointed Cristian Laza as CEO of Complet Electro Serv, producer and distributor of electric-IT equipments.

Mol Group posts highest profit in a decade in 2017

Mol Group announced its financial results for 2017. Mol increased its EBITDA by 14 per cent outperforming its 2017 target on the back of a strong financial and operational del...

 
 
   
advertising

advertising

advertising

advertising

More on News
Mihai Tudose announces his resignation as prime minister

Mihai Tudose announced on Monday evening, at the end of the Social Democrat Party (PSD) National Executive Committee (CExN) meeting, that he resigns as prime minister of Ro...

President Iohannis meeting Juncker and Tusk in Brussels, modifications in Romanian justice among topics

President Klaus Iohannis is to meet on Wednesday, in Brussels, with President of the European Commission Jean-Claude Juncker and with President of the European Council Dona...

1 Comment

Contract for the purchase of 227 Piranha V armored personnel carriers, signed in presence of PM Tudose

The contract for the purchase of 227 Piranha V armored personnel carriers was signed on Friday in the presence of Prime Minister Mihai Tudose, Deputy Prime Minister Marcel ...

President Iohannis: The Romanian society is mature and active and needs a state to match it

President Klaus Iohannis stated, on the occasion of the annual meeting with the heads of diplomatic missions accredited in Bucharest, that the Romanian society is a mature ...

2 Comments

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 ...

1 Comment

PM-designate Dancila: "It's important to implement governing programme"

Prime Minister-designate Viorica Dancila stated that it's important to put into practice the governing programme, but also 2018- the Centennial Year and prepare to take ove...

1 Comment

Iohannis: Romania's progress bound to stable legislation able to punish abuses

Romania's progress is inseparably bound to a coherent, stable legislation able to punish abuses and dishonesty, said President Klaus Iohannis, pointing out that the governm...

4 Comments