EPH to buy Polish Czechowice-Dziedzice Silesia coal mine in June-July.

By bne IntelliNews April 20, 2010
Local energy holding Energeticky a Prumyslovy Holding (EPH), acting in consortium with Silesia mine employees under the name Przedsiebiorstwo Gornicze Silesia, is likely to buy Polish coal mine Czechowice-Dziedzice Silesia from Polish coal miner Kompania Wglowa (KW), M&A newswire DealWatch reported. KW has reportedly finalised negotiations with Przedsiebiorstwo Gornicze Silesia . The transaction is to be completed at the turn of June and July. The price of the deal has not been announced. EPH plans to invest a few hundred million PLN in the mine and achieve coal production of 2mn tons per year. EPH was established by financial groups J&T and PPF - each of them controls a 40% stake, while former J&T partner Daniel Kretinsky holds 20%.

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