“CFR has paid us the amount owed. After five years, the situation was resolved and CEZ Vanzare (the company’s retail division – e.n.) is no longer at risk of being shut down,” Jan Veskrna, chairman of CEZ Romania’s Directorate, told a news conference.
“The downside is that we had to forgo the penalties for late payments,” he added.
CFR owed total penalties of RON120 million, according to CEZ officials.
Last year, Veskrna said CEZ Vanzare risked being closed down because it couldn’t recover the debt owed by CFR. (EUR1=RON4.5651)