France's EDF, GDF Suez in race for Polish power firm: report

13th October 2010, Comments 0 comments

French utility giants EDF and GDF Suez are in talks with Poland's government to take over Enea, the state-run power firm which ranks third on the country's market, Polish media reported Wednesday.

A swathe of Polish newspapers said that EDF and GDF Suez were among the three bidders seeking a 51-percent stake in Enea, alongside Poland's Kulczyk Investment.

In a statement on Tuesday, Poland's treasury ministry had said that it was holding parallel talks with three bidders, but did not identify them.

The Enea sale is expected to make the state between 4.6 and 6.0 billion zloty (1.16-1.5 billion euros, 1.6-2.1 billion dollars).

The Polish treasury controls 60.43 percent of Enea, after having sold a total 16.05 percent of the company's capital on the Warsaw Stock Exchange earlier this year.

Swedish energy group Vattenfall owns 18.7 percent, a stake it bought in 2008.

Enea is one of four state-controlled power companies in Poland.

It claims 16 percent of the country's power market, covering 2.3 million homes over a fifth of the country's territory.

The treasury attempted to sell Enea in 2009 but German power giant RWE withdrew its bid after having been the only candidate.

At the time, RWE said it had decided to drop its non-binding offer because it had decided the deal fell short of market expectations.

© 2010 AFP

0 Comments To This Article