Energy and heating company Kogeneracja plans to takeover rivals from sector

Wroclaw energy and heating company Kogeneracja plans to use proceeds from a new share issue on takeovers of its rivals in the sector. In the fourth quarter of 2000 the company plans to issue up to 4 million new shares, which could bring it as much as zl. 200 million, if the shares fetch a similar price as those issued in the first offering. The first takeover target could be the energy and heating plant of the Rokita chemical works in Brzeg Dolny near Wroclaw. Another possibility is the Zielona Gora energy and heating facility, which the Treasury is putting up for sale. The third target is the Tychy energy and heating plant, but it could prove to be too expensive for Kogeneracja, unless it has the backing of a powerful strategic investor. It looks as though Electricite de France could become such a backer, as it already acquired most of the shares from the first public offering of Kogeneracja and now owns close to 15%. (Puls Biznesu, page 4) T.J.