CEZ builds up steam for its energy sector takeovers

The concern would be one of the largest entities from the power sector present on the Warsaw bourse. "The Polish market is very important for us . . . We want to become part of the local economic community," said CEZ's president, Martin Roman. Since the new Polish government practically stonewalled privatization in the energy sector, the Czech concern wants to concentrate on taking over private power plants. "At the moment there are very few transactions in the private sector, but we are a long-term player and we believe that our strategy will be successful," said Roman. Last week CEZ made purchase offers to Elektrociepłownia Skawina and Elektrociepłownia Chorzów Elcho heat and power producers currently owned by American PSEG. Analysts estimate the value of the transaction at between $500million-$1 billion. (Parkiet, p. 5) A.F.