PKP files to invalidate privatization of PKP Energetyka

State railway group PKP has filed a motion with the Warsaw-based court to declare nullification of the privatization of its rail power unit PKP Energetyka last year due to a series of irregularities in the process, PKP and Ministry of Infrastructure officials told the Polish Press Agency (PAP). "A motion has been filed in the Warsaw-based district court against PKP Energetyka Holding regarding nullification of the whole privatization transaction," CEO Miroslaw Adamczyk told PAP. PKP sold PKP Energetyka to private equity fund CVC in October 2015 for PLN 1.9 billion "The privatization process was fully transparent, in line with the law and has been vetted by prosecutors and [supreme adit chamber] NIK, which found no irregularities," CVC Capital Partners representative Krzysztof Krawczyk told PAP.