Treasury cleared to sell Połaniec power plant to Electrabel

The Treasury Ministry has received all necessary clearance for the sale, to be finalized tomorrow, of its remaining 60% stake in Elektrownia Połaniec to Belgium's Electrabel for euro 160 million. The shares' sale will be the largest such operation conducted so far by the Ministry in 2003. The president of Electrabel Polska, Grzegorz Górski, would not comment on the issue but announced that in a few days his company would receive an additional 25% stake in the power plant, currently owned by Tractebel, a member of the same capital group. "Employees' shares will be transferred to Electrabel at the same time or a few days later if we do not finish preparations," said Górski - which together with the Treasury shares will bring Electrabel's stake to 100%. The Belgian company's strategy is to take control of 15% of the national market and, following this transaction, they will own roughly half of this amount. (Puls Biznesu, pp. 1, 8) M.M.