CVC to gain institutional partner if it acquires PKP Energetyka

London-based private equity CVC Capital Partners which was picked for exclusive talks to buy PKP Energetyka, a power unit from Polish state railways (PKP), said it will look for an institutional partner to become a minority shareholder at Energetyka. Accidentally, it wants the power company to enter the WSE in the future. Parkiet daily reported that the CVC has been already in talks with the European Bank for Reconstruction and Development (EBRD), Polskie Inwesycje Rozwojowe and PZU. The minority stake would amount to less than 20 percent. What is more, Przemysław Obłój, director at CVC told the daily that the fund would like to list PKP Energetyka on the Warsaw bourse within five years. 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.