Swedish state-owned utility Vatenfall sold its whole 18.7 percent stake in Polish peer Enea for PLN 1.03 billion or PLN 12.5 per share, the deal’s bookrunner Deutsche Bank said on Wednesday.
Vattefall decided to offload the stake as part of a larger asset sale aimed at reducing the company’s debt.
The price of Enea shares on the Warsaw Stock Exchange dropped by almost 13 percent on Tuesday and closed at PLN 12.55.
Enea is Poland’s third biggest utility with a 16 percent market share.
From Warsaw Business Journal
Enea sees upturn in profit
Enea to invest zł.20 billion by 2020
Enea mulls zł.5 billion bond issue
Energy sector dividends to boost budget
Enea may get zł.800 million EBRD loan for investments
Poland’s PM owes Putin one
BY Remi Adekoya
A day full of possibilities
BY Andrew Kureth