Vattenfall sells Enea stake for PLN 1.03 billion

Swedish state-owned utility Vattenfall sold its whole 18.7 percent stake in Polish peer Enea for PLN 1.03 billion or PLN 12.5 per share, the deal’s bookrunner Deutsche Bank said on Wednesday. Vattenfall decided to offload the stake as part of a larger asset sale aimed at reducing the company’s debt. The price of Enea shares on the Warsaw Stock Exchange dropped by almost 13 percent on Tuesday and closed at PLN 12.55. Enea is Poland’s third biggest utility with a 16 percent market share.