Energy giant PGE eyes Energa acquisition
PR dla Zagranicy
Aleksander Nowacki
18.02.2015 14:10
Poland’s largest listed power company Polska Grupa Energetyczna (PGE) is ready to take over Energa, the smallest of the four vertically-integrated power groups, PGE chief executive said.
Image: glowimages.com
The State Treasury, the majority shareholder in both companies, is in the process of analysis of the possible market consolidation, CEO Marek Woszczyk told an analyst meeting.
“It will come to you as no surprise that size matters in the power industry and a bigger [company] can do more,” the CEO said.
PGE also does not rule out taking part in the bail-out of the troubled coalminer Kompania Węglowa, though any such decision would need to make business sense for the listed PGE, Woszczyk said.
In addition to these deals, PGE plans PLN 50 billion (EUR 11.92billion) in capital expenditures to 2020, as it seeks to modernise and expand its capacity.
The company will also pay a “stable and predictable” dividend over the coming years, the CEO said. PGE plans to return some 40% of last year’s PLN 3.63 billion (EUR 856 million) net income to shareholders. (an)
Source: PAP