Poland retains Polish, Czech bids for energy privatisation

20th August 2010, Comments 0 comments

Poland's treasury announced Friday that it had retained bids from Polish and Czech contenders seeking to buy state-owned power company Energa, while rejecting a pitch from French giant GDF Suez.

The treasury said in a statement that it would be pursuing talks with Poland's PGE and the Czech Republic's Energeticky a Prumyslovy Holding, both of whom are eyeing Energa, which controls 17 percent of the nation's power market.

Besides GDF Suez, the treasury said it had also decided not to give further consideration to a bid from Poland's Kulczyk Holding.

In May, the treasury put up for sale 82.9 percent of Energa, which is currently wholly state-owned.

Headquartered in the Baltic port city of Gdansk, Energa says it serves 2.8 million households and 300,000 enterprises, mostly in northern and central Poland.

Energa, which has 12,000 employees, owns a coal-fired electricity plant and 45 smaller hydro-electricity facilities.

In 2008 it made a net profit of 435 million zloty (110.13 million euros, 143.8 million dollars) and had a turnover of more than eight billion zloty (2.03 billion euros, 2.64 billion dollars).

© 2010 AFP

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