Polenergia agrees to purchase Edison Energia for PLN 76.5m

Polenergia has signed a preliminary agreement under which it will acquire 100% of Edison Energia shares, the company said. The share purchase price was initially set at PLN 76.5 million.
The exact amount payable at the conclusion of the promised share sale agreement will be subject to certain adjustments related to the account closure procedures. The final price, however, will not be able to exceed PLN 86 million, according to the announcement.

The conclusion of the final agreement depends on obtaining the consent of the President of the Office of Competition and Consumer Protection and other conditions precedent. It will be signed within 10 working days from the date of fulfillment of all conditions precedent or on another date agreed by the parties, also stated.

“Polenergia’s strategic goal is to increase its presence among end customers. The purchase of Edison Energia will not only enrich the product offer, but will also strengthen the sales potential of green energy and additional services for both business customers and households. The transaction will also bring additional synergies resulting from combining the competences of selling and building prosumer energy sources at the disposal of Edison Energia with the competences of selling energy and managing green sources, which the Polenergia Group has and is constantly developing, ”said the president of Polenergia, Michał Michalski.

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