October 22, 2016 3:21 AM ET

Electric Utilities

Company Overview of Electrica Muntenia Nord SA

Company Overview

Electrica Muntenia Nord SA distributes and supplies power. The company was founded in 2001 and is based in Prahova, Romania. Electrica Muntenia Nord SA is a subsidiary of Electrica SA.

Marasesti St. No. 44 Ploiesti



Founded in 2001


40 24 440 5199


40 24 440 5824

Key Executives for Electrica Muntenia Nord SA

Electrica Muntenia Nord SA does not have any Key Executives recorded.

Electrica Muntenia Nord SA Key Developments

Electrica And FP Negotiations Cease

Negotiations between S.C. Electrica S.A. (BVB:EL) and SC Fondul Proprietatea SA (BVB:FP) regarding a potential acquisition of the participations held by it in the distribution and supply subsidiaries have been halted. According to the mandate given by the extraordinary general meeting of shareholders (EGMS) through resolution no. 3 of November 2015, the Board of Directors of Electrica was empowered to negotiate with Fondul Proprietatea (FP) in relation to a potential acquisition by Electrica of the minority participations held by FP in subsidiaries including, Electrica Muntenia Nord SA, Electrica Distributie Transilvania Nord SA, Electrica Transilvania Sud and SC Electrica Furnizare SA. Electrica informed its shareholders and investors that the negotiations between Electrica and FP were ceased, since no consensus was reached regarding the transactions' price. Electrica's last firm non-negotiable price, from March 24, 2016, was of RON 790 million in line with the firm offer received from FP in March 2015, and with the recent discussions. On March 28, 2016, FP sent Electrica a letter through which it declines this offer of RON 875 million.

Electrica Announces Plan To Purchase Entire Stake Held By Fondul Proprietatea In Four Subsidiaries

S.C. Electrica S.A. (LSE:ELSA) is planning to acquire stake some stake held by SC Fondul Proprietatea SA (BVB:FP), in four of its subsidiaries. Management Board of Electrica has mandated to start negotiations with Fondul Proprietatea on behalf of Electrica to acquire the entire stake held by the latter in the share capital of Electrica's subsidiaries, respectively Electrica Muntenia Nord SA (EDMN), Electrica Distributie Transilvania Nord SA(EDTN), Electrica Transilvania Sud (Electrica Distributie Transilvania Sud-EDTS) and SC Electrica Furnizare SA (Electrica Furnizare). S.C. Electrica shall purchase 21.99% stake EDMN or 7.8 million shares; 22% stake of EDTN or 8.17 million shares; 21.99% stake of EDTS or 9.33 million shares; and 22% stake of Electrica Furnizare or 1.37 million shares. At the completion of the negotiation process, the Board is required to publicly announce the offered price, either accepted or not accepted by Fondul Proprietatea, together with the economic argumentation that formed the base of the offer. Board will have to close the negotiation process by March 31, 2016.

Electrica Planning To Acquire Additional Stake In Its Four Units

S.C. Electrica S.A. (LSE:ELSA) may acquire additional stakes in its four subsidiaries that are held by SC Fondul Proprietatea SA (BVB:FP). Electrica said that extraordinary general meeting of shareholders is scheduled on November 10, 20145 or November 11, 2015 to start negotiations. The four units are Electrica Muntenia Nord SA (EDMN), Electrica Distributie Transilvania Nord SA (EDTN), Electrica Transilvania Sud (EDTS) and SC Electrica Furnizare SA (EF).

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Recent Private Companies Transactions

No transactions available in the past 12 months.

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