PGNiG withdraws from EDF asset purchase
March 16, 2017
Natural gas giant PGNiG saw its cogeneration unit PGNiG Termika withdraw from the transaction of buying EDF's Polish assets, with PGE assumed to take over PGNiG's share in the transaction, buying consortium members said in separate market filings.
The changes would boost PGE's share in the buying consortium to 60%, with Enea and Energa at 20% each.
The change is subject to approval by EDF.
PGNiG Termika and power utilities PGE, Enea and Energa have been negotiating the acquisition of all shares of EDF in EDF Polska, which owns four cogeneration plants i.e. Krakůw, Gdansk, Gdynia and Torun, district heating network in Torun, Rybnik Power Plant, and acquisition of all shares of EDF in ZEW Kogeneracja S.A., which is the owner of four Combined Heat and Power Plants i.e. Wroc≥aw, Zielona Gora, Czechnica and Zawidawie and district heating network in Zielona Gora, Siechnica and Zawidawie.