Polish energy firm Elektrim acquires ZE PAK power plant complex
Polish capital group Elektrim, operating in telecommunications, energy and real estate markets and controlled by Polish entrepreneur and billionaire Zygmunt Solorz-Zak, will shortly increase its ownership in one of its foremost assets – the ZE PAK group of power plants, Polish daily Puls Biznesu reported Aug. 22, 2012.
The State Treasury, which is the current owner of 50-percent of shares in ZE PAK, decided to sell a part of its stake to Elektrim, allowing the company to increase its 48-percent stake to a controlling one. Elektrim is currently in charge of operational control and has special shareholder rights in the power plants consortium.
“In a publicly traded company, special shareholder rights do not guarantee transparency,” Katarzyna Muszkat, CEO of ZE PAK, told the newspaper. “That is why Elektrim wants to have a majority stake.”
According to Muszkat, the agreement paves the way for ZE PAK’s initial public offering on the Warsaw Stock Exchange. The company’s prospectus will be filed to the Polish Financial Supervision Authority on Monday, Aug. 27, 2012.