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PGE To Sell Stake In Polish Heating Unit

Polish power company, Polska Grupa Energetyczna is planning to launch a bid for Warsaw heating distribution company, SPEC.

    Polish power company,Polska Grupa Energetyczna(PGE) is planning to launch a bid for Warsaw heating distribution company,SPEC,The Wall Street Journalreports. Czech private equity firm,Penta Investments, has also shown interest in SPEC.

    The Polish capital rolled out a bid earlier this month to sell an 85% stake in SPEC.BankZachodni, which is acting as an advisor on the deal, has valued the company around $524.2 million.

    Click here for the story fromThe Wall Street Journal.

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