Warsaw (Puls Biznesu) – CEZ buys two plants but refuses to reveal details before the transaction is closed.
CEZ, the Czech energy company, ended negotiations with U.S. PSEG concerning the acquisition of their stake in heat plant ELCHO (89 percent) and power plant Skawina (75 percent). The Czechs refuse to give the value of the transaction.
“Until the transaction is closed we will keep quiet about the price. We must first receive all necessary permissions, including one from competition authorities and another from the Ministry of the Treasure”, Kamil Cermak, CEZ Poland CEO said.
The government still has 25 percent in Skawina. Americans bought the first 35-percent stake in the plant in 2002 for USD 24.8m. They promised to invest USD 56m within five years. CEZ uis interested in PAK, Elektrownia Kozienice and distribution. The company wants to be listed on the Warsaw Stock Exchange.