The advisor will work on the preparation of an optimal transaction structure as well as on the identification, selection and search for potential investors.

The advisor will also execute the transaction at all stages. PGE together with its subsidiaries is going to sell their block of shares in EXATEL SA constituting  95.076% of the company's share capital.

I believe that PwC's experience in merger and acquisition transactions as well as its well-grounded knowledge of the telecommunications sector will ensure an effective execution of the EXATEL's sale. We would like this transaction to be carried out taking into account both the PGE Group's business and the business of the Company being sold  – said Mr Tomasz Zadroga, President of the Management Board of PGE Polska Grupa Energetyczna S.A.

Besides, the Management Board of PGE Polska Grupa Energetyczna S.A. selected Allen & Overy law firm as the legal advisor for the transaction.

The sale of EXATEL S.A. is an element of the PGE Polska Grupa Energetyczna's strategy assuming gradual sales of non-energy related assets. Earlier, in April this year the Management Board selected a financial advisor that assists the Company in its preparations for the sale of the shares held in Polkomtel – a GSM telephony operator.  

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Information on EXATEL S.A. EXATEL is a telecommunications operator. It focuses on services for business customers and public institutions. The company provides such services as data transfer, line lease, voice services, Internet services, as well as hosting and co-location. The company’s basic competence is data transmission, especially VPN (Virtual Private Network) services based on modern IP MPLS (Multi-Protocol Label Switching) networks for which EXATEL is a precursor on the Polish market. The Company’s Customers include more than 1500 large and medium-sized enterprises in Poland, representing various economic sectors such as finance  and banking, power engineering and industry, as well as domestic and international telecommunications operators. EXATEL manages the most modern backbone fibre-optic network in Poland, with a length of almost 20,000  and the throughput reaching 320 Gb/s.

Information on PGE:

PGE Polska Grupa Energetyczna is the largest power company in Poland and one of the largest such companies in Central and Eastern Europe. Thanks to the combination of its own fuel (lignite) resources, power generation and final distribution networks, PGE guarantees a safe and reliable power supply to 5 million households, businesses and institutions. The Company's net power generation amounts to 54 TWh. The installed capacity equals 12.4 GW.

The PGE Capital Group has operated under its current structure since 2007. The PGE Capital Group's major areas of activity comprise the mining of lignite and generation of heat and electricity from conventional sources, the wholesale trade of electricity and related products, the retail sales of electricity and heat, the distribution of electricity as well as the generation of electricity from renewable sources.

Since 6 November 2009 PGE Polska Grupa Energetyczna S.A. has been one of the largest companies listed at the Warsaw Stock Exchange.

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