Ministry: The Supervisory Board of EPS did not make a decision on establishing a joint company with the Hungarians

The Ministry of Mining and Energy announced that the Supervisory Board of Elektroprivreda Srbije (EPS) did not make a decision on the establishment of a joint company and the separation of 11 hydroelectric power plants with the Hungarian-based company MVM.

The vice-president of the Freedom and Justice Party (SSP) Dusan Nikezic previously announced that the privatization of EPS began with a "secret" deal whereby 11 Serbian hydro-power plants were to be transferred to a joint venture with the Hungarian MVM Group.

In a statement, the Ministry stated "that the change in the Statute and legal form of EPS closed the joint-stock company and that EPS remained 100% owned by the state".

- Anyone who talks about the alienation of EPS property in the public is spreading falsehoods and panic - it is written in the announcement.

The Ministry also noted that, "unfortunately, it is not new that individuals from the EPS itself falsely harass the public and the employees", and that, as it indicated, "it should be the subject of an investigation, why official documents of the company's management are leaked to the public with false information ".

In a statement, Nikezic stated that "the secret agreement, which was on the agenda of the EPS Supervisory Board on Thursday without professional and public discussion, obliges EPS to bring 11 hydroelectric power plants into the joint venture".

He stated that the obligation of the Hungarian company "is to bring in around EUR 600 million in cash", which, he added, is what the Hungarians estimate the value of the hydroelectric power plants, with the goal of making the ownership stakes identical.

Ministarstvo rudarstva i energetike Republike Srbije

Elektroprivreda Srbije ad Beograd

MVM Zrt.

Ministry of Mining and Energy

Elektroprivreda Srbije

EPS

Freedom and Justice Party

MVM Group

Dusan Nikezic

hydropower plants

Serbian-Hungarian HPP management company

privatization of EPS

new statute of EPS