The companies CEZ Chorzów B.V. and Elektrownia Chorzów S.A concluded contract concerning transfer of 24.8 % of shares of Elektrociepłowni Chorzów Elcho Sp. z o.o. As a result of this agreement CEZ, through its affiliate CEZ Chorzów B.V., will become 100% owner of the power company Elektrociepłowni Chorzów Elcho Sp. z o.o.
By this action CEZ continues in consolidation of companies in Poland, owned by it, and improvement of their management efficiency, which will be further reinforced by this 100% ownership. The said transaction, including transfer of shares, will be settled within the next days. Additional details concerning the transaction, including the purchase price, will not be available publically as agreed between the parties of the transaction.
The power company CEZ acquired majority shares in power companies Elcho and Skawina in 2006. Elcho is situated 8 km north-westwards from Katovice and co-generates electric power and heat by black coal combustion in two modern units with total installed capacity of 238 MW.