The Romanian state initiated a new lawsuit at the Court of Arbitration in Paris against the Italian energy group Enel in April.

The dispute stems from the decrease in the stake owned by SAPE, the company that manages the Romanian state's portfolio in the energy sector, in the energy distribution firm Enel Distributie Banat. The state demands compensation payment that is equal to the value of dividends that should have been distributed in 2012, reports local Profit.ro.

The state has recently lost another dispute against Enel at the International Court of Arbitration in Paris. It sued the energy company for breaching the privatization contract of Electrica Muntenia Sud, and has asked for damages of over EUR 900 million. Following the court’s decision, the state now needs to pay the lawsuit costs amounting to USD 1.3 million to Enel.

editor@romania-insider.com