Vattenfall in exclusive negotiations for Polish energy company
Vattenfall in exclusive negotiations for Polish energy company Vattenfall has been given the exclusive right to negotiate for the acquisition of the Polish energy company Górnoslaski Zaklad Elektroenergetyczny (GZE) in southern Poland. GZE is the first electricity distribution company to be put up for sale by the owner, the Polish State. The deal involves taking over the majority of the shares in the company. Following a tendering process, the Polish State has decided to continue negotiating solely with Vattenfall. GZE's operations comprise the distribution of electricity to end customers over regional and local networks, and electricity sales to industry and small customers. In Swedish terms, the distribution area concerned would be characterised as highly urbanised with a large percentage of industrial customers. "We are very proud and pleased that we have been chosen to proceed with this deal. This follows the strategy that Vattenfall has for growth in Europe. We now have time to make more detailed analyses and continue with the negotiations before we and the present owner make a final decision," comments Vattenfall's President and CEO Lars G Josefsson. GZE has 1.12 million customers and sales equivalent to approximately SEK 4 billion. Apart from the parent company, the Group consists of 24 subsidiaries (one sales company, 14 regional companies for network and customer services and 9 support companies). The Group has a total of 3 146 employees. From Vattenfall's Press Office, telephone: 08-739 50 10. For further information, please contact: Gunnar Lundberg, telephone: 08-739 66 24, mobile: 070-539 66 24. Torbjörn Wahlborg, mobile +48-602-36 49 20. Vattenfall is one of the largest energy companies in Europe, accounting for 25 per cent of total electricity sales in the Nordic region. The total electricity generation is 85 TWh. Vattenfall is a leading operator of regional and local distribution networks. About 2.4 million customers buy energy solutions or other services from Vattenfall. The Group also conducts operations in the areas of heating and natural gas, as well as transmission services and consulting for the energy sector. Vattenfall's biggest customers are energy companies, industrial enterprises and retail customers in the Nordic region. Vattenfall is also active in the Baltic countries, Germany, the Netherlands and Poland. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2000/10/23/20040817BIT20560/wkr0001.pdf