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August 15, 2022

Over EUR 190 M to be obtained from selling Electrica stock to employees

Electrica employees will be able to buy shares in privatized subsidiaries at a price from EUR 3.17 and 45.26 per share, according to the subsidiary. The price is higher than the one the state obtained on its stock from E.ON, Enel and CEZ in 2005, the estimated total amount to be obtained in this way being over EUR 190 M, Mediafax informs. The estimation is calculated based on the scenario where the Government decides to sell exactly 10 per cent of the stock in each subsidiary. In 2005, Electrica SA privatized four branches to E.ON (Germany), Enel (Italy) and CEZ (Czech Republic) and the same to Electrica employees of ‘up to 10 per cent of the shares’ was stipulated in the privatization agreements of all subsidiaries, some of which have been reorganized into various entities in the meantime, without specifying whether the shares were to be sold by the buyer or the state. So far, no Electrica employee has been able to purchase stocks, the deadline having been extended every year by Government decision. In the case of former Electrica Oltenia subsidiary, taken over by CEZ, the legal term for the purchase of shares expired in 2008 and was never extended.

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