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BRIEF-Enea buys Polaniec power plant from France's Engie for $255 mln
December 24, 2016 / 9:35 AM / 9 months ago

BRIEF-Enea buys Polaniec power plant from France's Engie for $255 mln

Dec 24 (Reuters) -

* Poland’s state-run utility Enea signed an agreement on Friday to buy all the shares in Engie’s Polish unit Engie Energia Polska, thus buying the power plant in the city of Polaniec, Enea said in a statement late on Friday.

* Enea said the enterprise value of Engie Energia Polska - calculated excluding debt and cash in the company - has been agreed at 1.073 billion zlotys ($255 million).

* Enea said the final price will be calculated on the basis of the enterprise value adjusted by net debt and working capital as of 31 December 2016.

* Enea said closing of the transaction is conditional on, among other things, obtaining the consent of the energy ministry and the competition watchdog UOKiK within six months. Source text for Eikon: Further company coverage: ($1 = 4.2104 zlotys) (Reporting by Marcin Goettig; Editing by Adrian Croft)

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