Poland’s Top Power Utility Buys CVC Unit in $430 Million Deal

Poland’s top utility PGE SA agreed to buy PKP Energetyka SA, the main power provider for the country’s railway, from private equity fund CVC Capital Partners in a 1.91 billion zloty ($430 million) deal.

The purchase will help grow state-controlled PGE’s share in the regulated market of electricity distribution from the approximately 25% it holds now. Its own distribution arm, which provides the utility stable earnings each year, accounted for about a quarter of its Ebitda in the first three quarters of 2022.

The transaction to buy the company, which the Polish government sold to CVC seven years ago, ...