The Romanian state has decided not to exercise its right to sell its minority stakes in two companies belonging to the Enel group in Romania, Enel Energie Muntenia and E-Distribuţie Muntenia, along with the sale by the Italians of their controlling stakes in Public Power Corporation (PPC), data shows , analyzed by Profit.ro.

The privatization contract from 2007, according to which the Italian group Enel acquired the former state company Electrica Muntenia Sud, which has since been split into energy supplier Enel Energie Muntenia and distributor E-Distribuţie Muntenia, provides for a so-called tag along the right of the Romanian state if the Italians sell its majority holdings, as is currently the case based on the agreement concluded in March by Enel with the Greek energy company PPC, Enel is obliged to act in such a way that the agreement includes the acquisition by the buyer, on the same terms and at the same price, of a minority stake of the Romanian of the state, currently represented by the Administrative Energy Participation Company (SAPE), fully controlled by the relevant ministry.

Trademark rights clauses are designed and implemented specifically to protect minority shareholders. SAPE owns 10% each of Enel Energie Muntenia and E-Distribuţie Muntenia, Profit.ro mentions.

However, at government level it was decided not to exercise this right, the decision was later legally transferred to SAPE, so that the Romanian state-owned company remained a shareholder of the two companies.