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The Warsaw Voice » Business » November 14, 2013
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PGE power mulls buying minority stake in peer Energa - CEO
November 14, 2013   
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Poland's power utility PGE is "seriously" considering the purchase of a minority stake in state power group Energa, on its way to the Warsaw Stock Exchange, PGE CEO Krzysztof Kilian told a news conference on Wednesday.

"We are seriously considering it," Kilian said, when asked if PGE is interested in buying a minority stake in Energa.

"From the point of view of PGE Energa is interesting," he said, explaining that having a stake in Energa "would certainly help us as we have a long position [in generation] and we have to place over 20 TWh on the market, not to our clients."

The Energa IPO is supposed to consist of Poland selling up to 141.5 million existing shares or 34.18% of the firm ahead of flotation on the WSE, the company said in a statement on November 4. A total of 269,139,114 shares, 65% of the firm, will be freed for Warsaw bourse trading.
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