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CVC fund to buy Polish utility PKP Energetyka for $376 mln

Reuters - UK Focus

WARSAW, July 23 (Reuters) - Global (Shenzhen: 300465.SZ - news) private equity fund CVC (Taiwan OTC: 4744.TWO - news) agreed to buy the PKP Energetyka utility from Polish railway group PKP for 1.41 billion zlotys ($375.68 million) excluding debt or 1.97 billion zlotys with the debt, PKP said on Thursday.

Earlier this month, PKP said it had invited CVC to exclusive talks on the takeover, adding it expected a deal in the third quarter of 2015. CVC was competing with Poland's state-run electricity firm Energa to buy PKP Energtyka. ($1 = 3.7532 zlotys) (Reporting by Agnieszka Barteczko; Editing by Christian Lowe)