PGE Polish EDF assets takeover under detailed scrutiny – UOKiK

WSE-listed power group PGE has been put under more detailed scrutiny of its takeover of Polish assets of French utility EDF by the antitrust watchdog UOKiK. The case has been entered into the second phase of the proceedings, reserved for more complicated cases. UOKiK wants to conduct, among others, market analysis. Bank in May, PGE agreed to buy Polish assets of French EDF for PLN 4.5 billion. The value of the transaction includes PLN 2.45 billion in equity value and PLN 2.06 billion in debt and is expected to be finalized the deal by January 2, 2018. EDF Polska owns four power and heat-generating plants and a coal-fuelled power plant, as well as EDF's 50 percent stake in Kogeneracja, which owns another four power and heating plants.