12th January 2012
Monday, May 21st, 2012
PGNiG secures zł.3 billion Vattenfall Heat Poland takeover
State-controlled oil and gas company PGNiG has finalized the purchase of a 99.8-percent stake in Vattenfall Heat Poland (VHP) for zł.3.017 billion.
“Owing to the VHP acquisition, PGNiG is becoming an energy conglomerate providing customers with multiple energy carriers, including heat, electricity and gas,” PGNiG said in a statement.
The production capacities of the Coal Handling and Preparation Plant and power plants owned by VHP are responsible for over 23 percent of the total installed heat capacities in Poland.
The capital expenditure was financed by PGNiG from its bond issue program.
AK
From Warsaw Business Journal
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