UK Markets closed
  • FTSE 100

    6,893.81
    +12.22 (+0.18%)
     
  • FTSE 250

    17,168.34
    +377.94 (+2.25%)
     
  • AIM

    806.38
    +7.99 (+1.00%)
     
  • GBP/EUR

    1.1381
    +0.0057 (+0.50%)
     
  • GBP/USD

    1.1166
    +0.0043 (+0.3841%)
     
  • BTC-GBP

    17,216.25
    -154.57 (-0.89%)
     
  • CMC Crypto 200

    443.49
    +0.06 (+0.01%)
     
  • S&P 500

    3,585.62
    -54.85 (-1.51%)
     
  • DOW

    28,725.51
    -500.09 (-1.71%)
     
  • CRUDE OIL

    79.74
    -1.49 (-1.83%)
     
  • GOLD FUTURES

    1,668.30
    -0.30 (-0.02%)
     
  • NIKKEI 225

    25,937.21
    -484.89 (-1.84%)
     
  • HANG SENG

    17,222.83
    +56.93 (+0.33%)
     
  • DAX

    12,114.36
    +138.86 (+1.16%)
     
  • CAC 40

    5,762.34
    +85.47 (+1.51%)
     

Poland offers to buy Tauron's coal mining unit for 1 zloty

·1-min read

GDAŃSK (Reuters) - Poland's Ministry of State Assets has offered to buy Tauron's coal production unit Tauron Wydobycie for a symbolic 1 zloty ($0.2118), the Polish utility said on Tuesday.

Poland's government has been pushing a plan to carve out the coal assets of state-controlled utilities PGE, Tauron and Enea into a single entity to boost the investment potential of the utilities.

"The state treasury's offer to buy the mining assets is a significant step towards implementing one of the most important structural processes being carried out by Grupa Tauron in recent years," Tauron Chief Executive Pawel Szczeszek said in a statement.

Tauron Wydobycie CEO Jacek Pytel added that the 'symbolic zloty' valuation is based on the current state of the mines as well as their long-term capital needs, according to the government's plans.

Tauron Wydobycie carries out production, enrichment and sale of coal at three mining plants - Sobieski, Janina and Brzeszcze and owns Poland's largest power coal resources, Tauron said

($1 = 4.7204 zlotys)

(Reporting by Karol Badohal; editing by Jonathan Oatis)