The Board of Directors of PPC S.A. approved today, July 14, 2009, the participation of the Company through a Joint Venture with Golden Energy One Holdings Ltd (Restis Group of Companies) in the Τender launched by the Government of Montenegro for the acquisition of shares and participation in the share capital increase, up to a 45% stake in the company Electroprivreda Crne Gore AD Niksic (EPCG).
In addition, the Board of Directors of PPC approved the terms of participation of the Joint Venture in the Tender for the submission of the relevant bid.
Above decision was taken in line with PPC strategy to seek revenue growth through expansion in Southeastern European markets.
EPCG is the vertically integrated electric utility of Montenegro active in generation, distribution and supply of electricity. The installed capacity of the company's power plants (thermal and hydroelectric) is 868MW and the annual net generation of energy is 2,045 GWh, supplying 322.5 thousand customers.
Athens, July 14 2009