Paris Arbitrage Court orders E.ON to pay RON 4 mln to Romanian state

Newsroom 21/02/2017 | 10:30

The Paris Arbitrage Court has ruled out that German utility E.ON, an important gas supplier on the local market, has to pay RON 4 million and interest to the Administration Company of Energy Shares (SAPE), the company owned by the Energy Ministry, for a dividends shares litigation with the minority shareholder, said on Monday the lawyers of the case, Zamfirescu Racoti & Partners (ZRP), according to News.ro.

„The dispute regarding the privatization contract of Electrica Moldova received for one side the action formulated by E.ON to carry out the sale option (Call option) by E.ON and on the other hand, the re-conventional request through which SAPE requested the contractual responsibility of the majority shareholder, due to the non-distribution of dividends in the period when SAPE was shareholder although the financial results of the privatized company allowed it,” said the law firm.

The decision comes a week after the Paris Arbitrage Court ruled out that Italian energy group Enel to pay EUR 401 million to the Romanian state for 13.57 percent of the shares of the former Electrica Muntenia Sud, currently split between E-Distributie Muntenia and Enel Energie Muntenia.

E.ON is present in Romania since 2005 and has around 3 million clients in the gas and energy sectors. The company administrates 81,000 km of energy network and over 20,000 km gas networks.

Georgiana Bendre