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Poland's PKP may close utility arm sale within days - treasury minister

Reuters - UK Focus

NOWY SACZ, Poland, July 18 (Reuters) - Poland expects state-run railway group PKP to close the sale of its utility arm PKP Energetyka in the coming days, Treasury Minister Andrzej Czerwinski told Reuters on Saturday (Shenzhen: 002291.SZ - news) .

Earlier this month, PKP said it had invited global private equity fund CVC (Taiwan OTC: 4744.TWO - news) to exclusive talks on the takeover, adding it expected a deal in the third quarter of 2015.

"I expect that in the coming days the sale of PKP Energetyka to an investor will be finalised," Czerwinski said.

"The contract will include all conditions ensuring the company's safe functioning," he added, saying the proceeds would be spent on new railway carriages and other purposes.

The CVC offer gives the business an enterprise value in excess of 1 billion zlotys ($265 million), sources close to the transaction said last month. ($1 = 3.7865 zlotys) (Reporting by Wojciech Zurawski; Writing by Wiktor Szary; Editing by Keith Weir)