Gas and oil giants leave group bidding for stake in G-8

According to unofficial sources, it is now certain that state-owned gas and oil giants PGNiG and PKN will leave the El Dystrybucja consortium which is negotiating acquiring a 25% stake in the G-8 group of Northern Poland energy distributors. If these two companies leave, only two entities will remain in the consortium: Elektrim and Kulczyk Holding, with the latter controlling 76% of El Dystrybucja. Insiders close to the deal believe that it is unlikely that the consortium will sign a deal on the G-8 acquisition before the November 19 deadline, until which it holds exclusive negotiation rights. In addition, it is also increasingly likely that new Treasury Minister Wieslaw Kaczmarek will annul the G-8 tender altogether. (Puls Biznesu, p.8) T.J.