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Deripaska's En+ Group determined to claim compensation from Montenegro

12:05 05/03/2012

MOSCOW, March 5 - RAPSI. Russian billionaire Oleg Deripaska's En+ Group claims 200 million euro from Montenegro for selling its stake in Kombinat Aluminijuma Podgorica, the Dan newspaper reported.

En+ is determined to go to international tribunals if Montenegro authorities try to avoid compensation payment, said Alexei Kuznetsov, the En+ Executive Director and the aluminum works' board of directors chairman.

Kuznetsov alleged that Montenegro misled the Russian company during the share purchase deal as it failed to disclose information about the company's debts.

In late February the Montenegro parliament approved the government's decision to repay Kombinat's 22 million euro debt to German Deutsche Bank and take control over the company.

According to some media reports, Kombinat's debt totals 350 million euro. Its major creditors are Deutsche Bank, Russia's VTB Bank and Hungarian OTP Bank.

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Deripaska's En+ Group determined to claim compensation from Montenegro

12:05 05/03/2012 Russian billionaire Oleg Deripaska's En+ Group claims 200 million euro from Montenegro for selling its stake in Kombinat Aluminijuma Podgorica.
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