WARSAW, Sept 16 Poland's state-owned railways
PKP said on Friday it had asked a Warsaw court to annul last
year's sale of its utility arm PKP Energetyka to global equity
fund CVC [CVC.UL}.
CVC bought PKP Energetyka from PKP in July last year for
1.41 billion zlotys ($366.75 million) excluding debt, or 1.97
billion zlotys including debt.
The sale was criticised by the then opposition party Law and
Justice (PiS), which won parliamentary elections in October. PiS
has said PKP Energetyka is key to Poland's energy security and
should not be controlled by a private fund.
"We confirm filing a motion (to the court)," a PKP
spokeswoman said, confirming a report by state-owned news agency
PKP Energetyka and CVC were not immediately available to
Since coming to power, PiS has called a halt to
privatisations, changed management in almost all state-run
companies and questioned the rationale and pricing of the
previous government's stake sales.
For example, it has questioned its predecessor's
privatisation of chemicals group Ciech and the sale of
some of the state's shares in miner KGHM.
In April, anti-corruption agency CBA raided the Warsaw
offices of chemicals group Ciech and its majority
owner Kulczyk Holding in an investigation into the privatisation
Market sources have told Reuters that CVC is eyeing a number
of assets for sale in Poland, including Nasper's Allegro,
convenience store chain Zabka owned by private equity firm Mid
Europa, as well as central and eastern European beer brands put
on sale by SABMiller.
($1 = 3.8446 zlotys)
(Reporting by Agnieszka Barteczko; Editing by Mark Potter)