PGE to announce tender offer for 66% stake in Kogeneracja

WSE-listed power utility PGE will announce a tender offer in order to reach 66 percent stake in Kogeneracja, the company said in a market filing. This is one of the conditions set up by antitrust watchdog UOKiK, after PGE acquired Polish assets of the French utility EDF. It was ordered to increase its stake from 50 percent (plus one share) to 66 percent. Mid-December PGE deputy CEO Ryszard Wasiłek said that PGE may bid for 100 percent stake in Kogeneracja. Kogeneracja owns four combined heat and power plants as well as a number of heating networks.