Poland Picks Energa Buyer Despite Antitrust Concerns

Law360, New York (September 15, 2010, 6:08 PM EDT) -- Poland's Treasury Ministry said Wednesday it has agreed to sell a majority stake in Energa SA to the country's largest utility, PGE Polska Grupa Energetyczna SA, for 7.53 billion zlotys ($2.5 billion), reportedly over the objection of the country's top antitrust regulator.

The $2.5 billion will net PGE an 84 percent stake in Energa when the deal closes, and the company will pay for the transaction through its own resources and debt capital, PGE said Wednesday.

But Malgorzata Krasnodebska-Tomkiel, the head of Poland's Office of Competition...
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