We are pleased to announce that we advised PGE Polska Grupa Energetyczna S.A. (“PGE”) on its acquisition from US-based fund CVC Capital Partners of 100% of the shares in PKP Energetyka S.A. (“PKP Energetyka”).
PGE is Poland’s largest energy utility with respect to sales revenues and profit.
PKP Energetyka is one of the biggest electricity companies in Poland. It supplies electricity to railways through the National Electricity System (KSE) and is responsible for ensuring the reliable and adequate provision of electricity for rail transport. The group to which PKP Energetyka belongs is a distributor and supplier of energy to the rail network and additionally provides maintenance services for such networks.
CVC Capital Partners is one of the world’s leading private equity and investment advisory firms, with a network of 24 offices throughout Europe, Asia and the Americas. The firm is also present in Poland, where its investments have included interests in PKP Energetyka and the Żabka chain of convenience stores.
“We are delighted to have had the opportunity to support PGE in a transaction that will certainly have an impact not only on the expansion of the energy network, but also on the development of services, both on the energy side and on the railway side. We would like to thank the PGE team for their trust in us and to congratulate all of the parties involved,” says dr Marek Maciąg, a partner at Rymarz Zdort.
The transaction team consisted of dr Marek Maciąg (partner), Marek Durski (partner) and Małgorzata Deruś (senior associate). Support for the comprehensive legal due diligence was coordinated by Monika Kierepa (partner).