Tauron to take full control of its mining unit PKW
December 11, 2013
Poland’s second-biggest power utility Tauron purchased a 47.5% stake in its coal mining unit Poludniowy Koncern Weglowy (PKW) from troubled state miner Kompania Weglowa for PLN 310 million, Tauron said on Tuesday.
Kompania Weglowa, EU’s biggest hard coal producer is suffering from record low coal prices as an economic slowdown has forced clients to cut production.
After the deal, Tauron will control 100% of the company.