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The fulfillment of the last condition precedent under the Conditional Share Sale Agreement regarding sale of EDF assets in Poland

  • No. of the report: 49/2017
  • Report date: 31.10.2017 18:11
  • Report legal ground: Art. 17 sect. 1 of MAR – inside information.

Contents of the report

With reference to current report no. 29/2017 dated May 19, 2017, the Management Board of PGE Polska Grupa Energetyczna S.A. (“PGE”, the “Company”) discloses that on October 27, 2017 all conditions precedent to the transaction of sale of EDF assets in Poland have been fulfilled.

On October 31, 2017 PGE received a notification from EDF companies on a statement by the General Director of the National Center for Agricultural Support (Krajowy Ośrodek Wsparcia Rolnictwa - KOWR), the legal successor of the Agricultural Property Agency (ANR), that it does not exercise the pre-emption right.

EDF has already received a clearance on the transaction from the relevant governmental authorities in France. PGE received consent for the transaction from the Minister of Energy and obtained the conditional consent of the Office of Competition and Consumer Protection.

Due to fulfillment of all conditions precedent, the closing date of the transaction, pursuant to the Conditional Share Sale Agreement, is November 13, 2017.

Information on the transfer of shares in the acquired companies and on the completion of sale of EDF assets in Poland will be disclosed in separate current reports of the Company.