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Poland Eyes $264M SPEC Sale

Warsaw is seeking to sell its stake in municipal heating network operator, SPEC.

    Warsaw is seeking to sell its stake in municipal heating network operator,SPEC,Bloombergreports. The city is selling the company’s stake afterVattenfallsaid it will sell its main supplier.

    Fortum, Vattenfall’s biggest competitor in the Nordic markets, may bid in both of the processes. The Polish capital is seeking non-binding bids by March 28, 2011 and will shortlist potential investors by April 20, 2011. Warsaw values SPEC at over $264 million.

    Click here for the story fromBloomberg.

    Click here for additional coverage fromReuters.

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