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Enea might acquire ZE PAK before next year's IPO

2007-10-08 00:00
publikacja
2007-10-08 00:00
"The date of the debut was postponed on numerous occasions. We had to wait for the consolidation with power plant Elektrownia Kozienice and mine Bodganka to be resolved," explained Paweł Mortas, president of Enea.

He explained that the delay was also the result of changing governmental plans related to the company and personnel issues. Mortas added that the contract with the advisory company should be signed within one month of an approval from the Treasury Ministry. "In the first stage, 10-15% of new equity will be distributed on the bourse. Valuation of the group stands at roughly zł.10 billion, but the value of eventual receipts from the share issue will be influenced by the assets controlled by the group at the moment of the IPO," said Mortas. The Treasury is planning to transfer lignite mines Konin and Adamów to the group, but Enea might also acquire ZE PAK. "We expect this consolidation will produce gains of zł.400 million within four years," said the CEO.


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