Polenergia gets regulatory nod to buy Polish Energy Partners

Sep 25, 2012 - Luxembourg-based energy holding Polenergia SA has obtained the Polish competition regulator's approval to take over green energy firm Polish Energy Partners (WAR:PEP), Polenergia owner Kulczyk Investments said Monday.

On September 21, Polenergia raised its offer to acquire all of the shares of PEP to PLN 33 (USD 10.3m/EUR 8m) apiece from the initially offered price of PLN 31.5 per share in August.

The subscription period started on August 28 and ends on September 26.

Most of PEP's shareholders are funds, including Generali OFE which owns an 18.04% stake, ING OFE which has a 10.65% stake, Pioneer Pekao Investment Management with a 10.64% stake, Aviva OFE with 10.11%, Aviva Investors with 5.04%, and Quercus Funds with a 4.79% stake in the company. PEP is focused on wind and biomass projects.

Kulczyk Investments is founded by Polish tycoon Jan Kulczyk.

(PLN 1 = USD 0.311/EUR 0.241)

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