Warsaw, 24 October 2011 – PGE Polska Grupa Energetyczna, one of the current shareholders in Polkomtel S.A., has been notified of UOKiK's approval of the sale of 100% Polkomtel S.A. shares to Spartan Capital Holdings Sp. z o.o.
The approval issued by UOKiK constitutes the fulfilment of a condition provided for in the preliminary agreement for the sale of 100% Polkomtel S.A. shares concluded on 30 June 2011 between PGE, PKN ORLEN S.A., KGHM Polska Miedź S.A., Vodafone Americas Inc, Vodafone International Holdings B.V. and Węglokoks S.A. as the sellers and Spartan Capital Holdings Sp. z o.o., a special purpose company controlled by Mr Zygmunt Solorz-Żak, as the buyer.
The fulfilment of the condition was necessary for the successful completion of the transaction. Consequently, according to the procedure specified in the Agreement, the Sellers and the Buyer will agree upon the date of executing the final agreement for the transfer of Polkomtel S.A. shares. It has been a very difficult transaction, but thanks to cooperation and determination of the interested parties, it has become such a huge success. For PGE, it is an element in the implementation of the Group's strategy providing for the divestment of its non-core assets and a stronger focus on its core activities, said Tomasz Zadroga, PGE Management Board President and Polkomtel S.A.
Supervisory Board Chairperson. PGE S.A. holds 21.85% of shares in Polkomtel S.A., which will be sold to Spartan Capital Holdings Sp. z o.o. for PLN 3.29bn. Polkomtel S.A. is a telecommunication company operating in Poland as a provider of voice and data transmission services through a wide range of wireless and broadband solutions. Information about PGE Capital Group: PGE Capital Group is the largest group of the power generation sector in Poland and one of the largest in Central and Eastern Europe. Because of its size and position, it is a very important link in Poland's energy security system. PGE CG is the undisputed leader with respect to the installed capacities, volume of generated electricity and the number of end users.
The PGE Capital Group has a 40% share in Poland's power generation market and a 26% share in the electricity distribution market. PGE CG's activities are divided into five segments: Conventional Power Generation, Renewable Power Generation, Nuclear Power Generation, Distribution Retail Sales and Wholesale Trade. The Group employs over 46,000 people and boasts 13.1 GW of installed generation capacities. In 2010 the PGE Capital Group's net electricity production reached a net level of 53 TWh. The Group's major competitive advantage is its presence in almost all links of the value chain in the power generation industry (except for the power transmission, which is dealt with by the company PSE Operator S.A.). One of the most important principles followed by the PGE Capital Group is sustainable development.