Poland to convert part of KHW’s debt into shares of PGG

Poland plans to convert 30-35 percent of Katowicki Holding Węglowy PLN 1.4 billion debt into shares of the merged Polska Grupa Górnicza (PGG)-KHW, deputy Energy Minister Grzegorz Tobiszowski said, although he admitted that such idea will be hard to accept for the banks involved in the transaction. Several Polish banks are KHW bondholders and would…

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