Nuclearelectrica informs on the intention of the shareholders of Energonuclear project company, Enel Investment Holding B.V and ArcelorMittal Galati S.A, to withdraw from the project.
Thus, in accordance with the provisions of Art. 11.2.4 of the Revised Investors Agreement concluded between the shareholders of Energonuclear SA, Enel Investment Holding B.V and ArcelorMittal Galati S.A decided to exercise their “put option” through the sale of their respective packages of shares of 9,15% and 6,2% in EnergoNuclear SA, by transmitting a notification in this respect to the majority shareholders, SN Nuclearelectrica SA.
Within a period of 30 days from the receipt of the notifications, SNN has the obligation to purchase the share packages owned by Enel Investment Holding B.V and ArcelorMittal Galati S.A in EnergoNuclear, at a price equal to 80% of the shares’ nominal value.
The withdrawal from the project of Enel Investment Holding B.V is ,currently, motivated by the incompatibility of the initial investment strategy with the potential new structure of the shareholding, in which another company than Nuclearelectrica would own the majority of the shares and the decision of ArcelorMittal Galati S.A is motivated by the challenges of the business environment which do not support the continuation of the company’s involvement in the Project.
Nuclearelectrica appreciates the involvement and confidence in the project demonstrated by the two companies since the establishment of Energonuclear.
Nuclearelectrica will continue the development of the project through Energonuclear, being currently involved in negotiations for attracting a majority shareholder in the project.