EPS to turn into a joint-stock company?

Elektroprivreda Srbije (EPS) has officially entered the process of changing the ownership structure, and as soon as next year, the company is expected to transition into a joint-stock company, the portal Nova.rs reports.

The Vice-President of the People`s Party (Narodna stranka), Miroslav Aleksic, announced on Twitter that as of July 25, the PE EPS passed a decision to establish an Expert Team for changing the legal form of the energy giant.

The idea is to transform EPS into a joint-stock company, and the whole process will be led by a team consisting of a management board and an operational team. The heads of these two teams will be directors from EPS, whereas the president will be the acting director of EPS Miroslav Tomašević.

As stated in the decision, the Government has, in its conclusion dated November 27 2014, accepted the EPS reorganization program, which proposes change of company`s legal form to a joint stock company. Afterwards, EPS is expected to change its share capital, which will be expressed in shares.

- The transformation into a joint-stock company will pave way for the privatization of a part of this company, through recapitalization or strategic partnership. The Government of Serbia has already prepared an assessment of the assets - Nova.rs reports, and according to its sources, the entire procedure of EPS`s transition into a joint-stock company should be completed by January 2023.

Elektroprivreda Srbije ad Beograd

Vlada Republike Srbije

People's Party

Miroslav Aleksic

change of ownership structure

joint stock company

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