On 18 January 2011 PGE Polska Grupa Energetyczna SA and the State Treasury represented by the Minister of the State Treasury signed an annex to the agreement for the purchase of Energa SA shares. The annex provides for the extension of the agreement's duration in expectation of the completion of the court proceedings concerning PGE's appeal against a decision of the President of the Office for Competition and Consumer Protection (UOKiK) prohibiting this transaction.
In the annex, the parties specified that the agreement's duration would be 12 months from its effective date; simultaneously, the period was suspended until the completion of the court proceedings concerning the Company's appeal against a decision of the President of UOKiK prohibiting the merger of PGE with Energa SA.
On 29 September 2010 PGE Polska Grupa Energetyczna SA and the State Treasury entered into an agreement providing for PGE's acquisition of 4,183,285,468 shares, or 84.19% of the share capital, in Energa SA. The transaction price was agreed at PLN 7 529 913 842.40.
The completion of the transaction requires PGE's acquiring a relevant acquisition permit.