State Treasury acquires top coal producer

The State Treasury and Enea signed a preliminary agreement for the State Treasury to acquire all of its shares in the Lubelski Węgiel Bogdanka coal mine. Enea currently holds over 64% of Bogdanka's shares. In August, the State Treasury submitted an offer to buy shares from Enea at PLN 45 per share, totaling over PLN 988 million. Payment is set to be settled in treasury bonds transferred through the Repatriation Fund.

This agreement confirms the State Treasury's intention, as expressed in a resolution from the previous year, to acquire Enea's shares in Bogdanka. The final step involves formalities related to valuing the transaction. Regardless, they aim to sign an agreement summarizing the negotiated terms for securing workers' rights.

Lubelski Węgiel Bogdanka is a key producer of hard coal in Poland, primarily used for electricity and heat production and cement manufacturing. Enea, with over 52% state ownership, is engaged in electricity generation and distribution, serving 2.6 million customers and operating two power plants in Kozienice and Połaniec.

Source: strefainwestorow.pl