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Polish railway invites CVC to exclusive talks on PKP Energetyka sale

Reuters - UK Focus

WARSAW, July 6 (Reuters) - Polish state-run railway group PKP said on Monday it invited global private equity fund CVC (Taiwan OTC: 4744.TWO - news) to exclusive talks on the takeover of its utility arm PKP Energetyka.

CVC and Poland's fourth-largest power firm Energa submitted the two highest offers, both exceeding 1 billion zlotys as of enterprise value, to buy PKP Energetyka, sources close to the transaction said last month.

PKP said it expects to close the sale in the third quarter of 2015.

(Reporting by Agnieszka Barteczko; Editing by Wiktor Szary)