According to zf.ro, the Romanian party sought payment of EUR834 million for alleged failure to meet the provisions in the privatization contract, plus penalties, as well as RON378 million as damages representing the dividends for 2007 and 2008 and interests, totaling EUR920 million.
Electrica Muntenia Sud, a former unit of state-run electricity company Electrica SA, was privatized in 2008, when Enel paid the Romanian state EUR394.8 million for a 50% stake. Enel later increased its stake in Muntenia Sud to 64.4% and paid another EUR38 million to the Romanian authorities.
The Energy Shares Administration Company, or SAPE, which represented Romania at the International Court of Arbitration of the International Chamber of Commerce in Paris, is a government agency established in May 2014 that manages the state’s stakes in energy companies.