EVN AG
EVN AG: EVN AG commences investment treaty arbitration against the Republic of Bulgaria
EVN AG / Key word(s): Legal Matter 21.06.2013 / 15:39 --------------------------------------------------------------------- EVN AG notified the Republic of Bulgaria, in March 2013, of its claims under international investment treaties in connection with Bulgaria's breaches of public international law. This dispute arises out of actions by Bulgarian regulatory authorities and government agencies in relation to the pricing of electricity and compensation for public obligations in respect to renewable energy. These measures have caused substantial damage to EVN AG and its affiliates. In its notice, and on several occasions since, EVN AG has invited the Bulgarian Government to enter into negotiations in order to achieve an amicable settlement. Yet, these efforts have so far not led to a resolution of this dispute. Therefore, in order to safeguard its interests, EVN AG has initiated international arbitration proceedings at the International Centre for Settlement of Investment Disputes (ICSID), which forms part of the World Bank group. Taking into consideration that the new government of the Republic of Bulgaria has just taken office, EVN AG would like to emphasize that it remains interested in settling the matter amicably in the interests of both parties. End of Corporate News --------------------------------------------------------------------- 21.06.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: EVN AG EVN Platz 2344 Maria Enzersdorf Austria Phone: +43-2236-200-12294 Fax: +43-2236-200-82294 E-mail: info@evn.at Internet: www.evn.at ISIN: AT0000741053 WKN: 074105 Indices: ATX Listed: Foreign Exchange(s) Wien (Amtlicher Handel / Official Market) End of News DGAP News-Service --------------------------------------------------------------------- 217574 21.06.2013
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