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Government obtains additional dividends from Enel worth 502 mln RON

virgil popescu

The Minister of Economy, Energy and Business Environment, through the Energy Participation Management Company (SAPE), negotiated the obtainment of over 100 million euro (approximately 502 million RON) as extra dividend from three companies in the Enel Group, in which SAPE is a minority shareholder, a release of the ministry sent on Thursday to AGERPRES shows.

At the end of February, approximately 95 pct of the amount was wired to the SAPE accounts.

The dividends were distributed from the reported result of the previous years, and the negotiations for their granting were conducted by SAPE, Enel Group and Fondul Proprietatea representatives, the decision to pay the dividends being made by the parties' joint agreement.

The discussions on the part of the state were coordinated by Virgil Popescu, Minister of Economy, Energy and Business Environment, through the SAPE team led by Bogdan Stanescu, the president of the SAPE SA Directorate.

"As Minister of Economy, Energy and Business Environment, I coordinated and I was in permanent contact with the negotiation team that represented the state in this demarche. This success shows that the professional approach on the part of the state, based on documentation, negotiation and respecting the law, is what brings consensus and gain in a state-private shareholding scheme. I want to thank all those involved in this process for the professionalism they have proved. Most of the amount was already wired on February 21, 2020. The balance, meaning 20 pct of the amounts of the dividends distributed by E-Distribution Dobrogea will be paid by mid-August 2020," said Virgil Popescu, Minister of Economy, Energy and Business Environment, quoted in the release.

In his turn, Bogdan Stanescu, president of the SAPE Directorate maintains the negotiations for the distribution of dividends represent a success for Romania. "It's a first for Romania and a categorical success in the negotiations for the distribution of dividends. The actual negotiations were concluded in favor of the Romanian state, on December 30. In this context, SAPE will close all litigation to recover the sums representing the dividends it was owed until December 31, 2018," said Stanescu.

The value of the dividends is in line with the participation that the Romanian state has in the mentioned companies: 10 pct in E-Distribution Muntenia, 24.86 pct of E-Distribution Banat, and 24.9 pct of E-Distribution Dobrogea.


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