PGE and ZE PAK conclude negotiations on potential acquisition of shares in PAK CCGT by PGE

Listed power utilities PGE and ZE PAK have concluded negotiations on the potential acquisition of shares in PAK CCGT by PGE, the companies announced in their statements. ZE PAK added that it is currently focusing on implementing the CCGT project independently, based on other sources of financing.


In January, the companies announced the conclusion of a term sheet regarding a potential transaction involving the acquisition by PGE of a 100 percent stake in PAK CCGT and 50 percent of shares in the nuclear power SPV PGE PAK Energia Jadrowa from ZE PAK.

"The management board of the company announces that it has received information from ZE PAK about its decision to withdraw from the sale of 100 percent of shares in PAK CCGT sp. z o.o. and, consequently, about the termination of negotiations with the company as of June 30 this year," PGE announced in the market filing.

ZE PAK added that it is currently focusing on implementing the CCGT project independently, based on other sources of financing.

"At the same time, the company and PGE SA declare their intention to continue talks regarding PGE PAK Energia Jadrowa SA," ZE PAK stated.

mbi/ ao/

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