OREANDA-NEWSSverdlovsk arbitration took the side of the Dutch holding ENEL Investment Holding B.V. in a corporate dispute with minority shareholders of PJSC Enel Russia. The group of offshore companies Prosperity demanded to recover about 8.75 billion rubles at such a sum, the claimant assessed the damage to Enel Russia from the actions of the majority owner.

The preliminary hearing of the case was postponed for over a year due to difficulties in notifying Italian shareholders. In April, the Sverdlovsk arbitration decided that all necessary actions were taken to notify the defendants, and scheduled the examination on the merits. At the first meeting, the court decided in favor of ENEL Investment Holding B.V.

Initially, Prosperity demanded the return of 8 billion rubles, but at the preliminary hearing it increased the amount of the claim to € 117.83 million and 389.4 million rubles. In total, it is about 8.75 billion rubles. The press service of Enel Russia declined to comment on the Russian media. Prosperity group comment failed.

Minority shareholders (the Prosperity group owns 7.68% of the company) stated that they didn't disclose the origin of the equipment, and the supply contract was signed despite the forecast for energy resources published by the time of its conclusion was significantly worse than originally there is a board of directors of Enel Russia agreed on a deal with economic risks. Formally, the Enel Russia project has been suspended. Although the board of directors didn't take decisions to cancel it.

Since last July, ENEL Investment Holding B.V. ceased to be the main owner of PJSC Enel Russia. The Dutch holding is 100% owned by Italian Enel S.p.A., which directly controls the controlling stake (56.4%) of Enel Russia since July 11, 2018. ENEL Investment Holding B.V. It has been the controlling person since 2007, since the Italians entered the Russian generation market.