CVC in exclusive talks to buy PKP Energetyka

London-based private equity CVC Capital Partners was picked for exclusive talks to buy PKP Energetyka, a power unit from Polish state railways PKP, the latter said on Monday. Managing Director Sławomir Baniak told Bloomberg in an emailed statement that PKP wants to sell its unit in the third quarter. The company is selling its assets to reduce debt. In June, two Polish newspapers Puls Biznesu and Parkiet said that only two entities, state-controlled Energa and private equity fund CVC made binding offers to purchase PKP Energetyka. According to Parkiet, CVC'c offer was higher than Energa's, which amounted to PLN 1.5 billion and PLN 1.3 billion respectively.