Gas firm PGNiG could buy SPEC and Vattenfall Heat Poland simultaneously.

By bne IntelliNews February 25, 2011
Blue-chip natural gas firm PGNiG claims that the best option for the firm would be a simultaneous takeover of Warsaw heating firm SPEC and cogeneration heat plant EC Warszawskie (Vattenfall Heat Poland), the firm's CEO Michal Szubski has said. PGNiG has already taken SPEC's information memorandum. Offers for the firm are to be presented by Mar 28 with the decision as to which companies qualified for the second stage will be announced by Apr 20. PGNiG could buy both firms alone or together with a financial or strategic partner, Szubski also said. In the autumn, Sweden's Vattenfall said that it would sell its Polish assets in 2-3 year. In Poland, Vattenfall owns power distributor Vattenfall Distribution Poland SA (formerly, GZE), heat-and-power plant group Vattenfall Heat Poland (formerly, EC Warszawskie) and 18.67% stake in the third-biggest power group Enea. ISB

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