Profil:
PGE SAZE PAK power shares jump 11.4 pct after selling stake in nuclear project
Listed power group ZE PAK's shares were up by 11.4 percent at around 9:08 local time, following an announcement of the company concluding a preliminary conditional agreement with listed power utility PGE to sell a 50 percent stake in their nuclear power joint venture PGE PAK Energia Jadrowa to PGE.
PGE's shares were 1 percent higher, with WIG20 index rising 0.1 percent.
As stated, the condition precedent to the execution of the agreement is PGE obtaining unconditional consent from the minister responsible for energy resources to take control of PGE PAK Energia Jadrowa.
PGE PAK EJ is a joint venture established in 2023 by PGE and ZE PAK to carry out preparatory work for the possible construction of a nuclear power plant near Konin with a total capacity of 2.8 GW. Each owner holds a 50 percent stake in the entity.
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