Private equity firm CVC Capital Partners has signed an agreement to acquire PKPE Energetyka, which is the energy unit of Polish National Railways, in a deal worth zl1.97bn (€477m).

The energy unit supplies power to the Polish railway network and other customers across the country.

PKPE Energetyka also offers nationwide maintenance and emergency response services for the railway network, besides operating its fuel stations for diesel locomotives.

"We are looking forward to working with the management and employees of PKPE and supporting the ongoing multi-year investment programme."

The unit also handles sale of power and gas for the railway authority in Poland.

CVC had submitted the highest bid for acquiring the unit excluding the debt or for zl1.97bn, including debt.

The transaction awaits approval from the competition authority and the Poland Infrastructure Ministry, and is expected to close in the third quarter this year.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

PKP chief executive officer Jakub Karnowski was quoted by Bloomberg as saying: "We sought the investor that will strengthen the market position of the company and enable it to grow dynamically."

The deal marks the ‘first stand alone, direct investment’ for CVC in Poland.

CVC partner István Szoke said: "We are looking forward to working with the management and employees of PKPE and supporting the ongoing multi-year investment programme as we seek to develop the business to be able to perform on par with the best-in-class global operators."