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PKP Energetyka changes owners. “The transaction has been closed”

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The transaction of PGE’s acquisition of 100 percent of shares in PKPE Holding, which controls PKP Energetyka, has been closed, Polska Grupa Energetyczna (PGE) announced on Monday in a press release.

“The Management Board of PGE Polska Grupa Energetyczna informs that after the fulfillment of the last of the conditions precedent on March 31, 2023, on April 3, 2023, the transaction of direct acquisition by PGE of 100% of shares in PKPE Holding was closed, and consequently indirect acquisition of 100% of shares in PKP Energetyka and shares in other subsidiaries held by the company, PGE announced in a stock exchange release.

PKPE Holding is a holding company that controls a number of entities whose activities are focused around PKP Energetyka. The PKPE Group is a distributor and seller of energy for the traction network, and additionally provides traction network maintenance services.

In December 2022, PGE announced that it would buy PKP Energetyka for over PLN 1.9 billion. The seller is the American fund CVC Partners.

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The network train of PKP EnergetykaPKP Energetyka

PKP Energetyka – information about the company

PKP Energetyka distributes 4 TWh of electricity annually, uses 21.5 thousand km of power lines and has six traffic control centers in a network controlled by 52 thousand. smart meters. The company operates 814 traditional substations and cabins, 6,213 power stations, as well as 70 network trains. The company employs 4.2 thousand people. employees.

The largest customers of PKP Energetyka are companies from the railway industry. The company acts as the Distribution Network Operator (DSO). The company supplies electricity for traction purposes – to propel electric and non-traction trains, such as powering train traffic safety devices, turnout heating devices, station buildings, lighting platforms and railway areas, etc.

According to the current development plan for distribution activities, the share of railway customers in the company’s revenues reaches 80%. In connection with the implementation of the National Railway Program by PKP PLK, PKP Energetyka is implementing a program to modernize the traction network power supply systems, the value of which in the 2021-2025 perspective is over PLN 4 billion.

PKP Energetyka in the black

As the president of PGE, Wojciech Dąbrowski, announced the purchase, since the privatization the owner has invested PLN 3.8 billion in PKP Energetyka, and PGE has inspected these investments and recognized their amounts. He emphasized that in 2016 PKP Energetyka had less than PLN 100 million in operating profit, and today it is about PLN 700 million

.PGE Polska Grupa Energetyczna is the largest power company and supplier of electricity and heat in Poland. The State Treasury holds less than 61 percent of PGE’s shares. shares.

Main photo source: PKP Energetyka

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