EVN To Sue Bulgaria For EUR 1 B
The electricity distributing company EVN has hired an international lawyer and plans to sue Bulgaria for EUR 1 B if its business is nationalized.
According to reports in the Austrian daily Kurier, quoted by Bulgaria's daily 24 Chasa, the company has paid EUR 270 M for its license and has invested more than EUR 600 M.
According to reports in other Bulgarian-language dailies, last week Bulgaria's President Rosen Plevneliev had a meeting in Vienna with EVN's chairman of the board Stefan Siskovic.
Meanwhile, EVN Bulgaria said they would seek from the National Electricity Company (NEK) EUR 250 M and reminded that there is already a court case against Bulgaria for breach of contract with Austrian for encouraging investments.
- » Bulgaria’s National Electric Company Reports Record-High Loss of BGN 425 M in end-Sept
- » Austria's Verbund to Sell Its Wind Farm in Bulgaria
- » Russia Ties Renewal of Supplies to Ukraine's First Chunk of Debt
- » Moscow, Kiev Agree to Renew Gas Flow to Ukraine
- » Bulgaria to Use EU Funding to Implement 5 Energy Projects worth over EUR 4 M
- » Bulgargaz Cuts Gas Supplies to Bulgarian Heating Utilities by 50%