CVC secures €477m acquisition of PKP Energetyka

The acquisition of PKPE marks the GP's first stand-alone direct investment in Poland. It came through after CVC was invited to exclusive acquisition talks in early July, with reports in Poland suggesting the GP's bid had trumped offers from three local utilities providers.

CVC has a track-record of investing in major strategic and infrastructural assets, having previously backed Spain's electricity network operator Inalta and French global rail infrastructure group Delachaux.

Central and eastern European infrastructure and publicly owned assets have been a popular play for private equity recently, particularly in Slovenia, where the government is in the process of privatising several assets.

Apollo and the European Bank for Reconstruction and Development took the opportunity to acquire bank Nova KBM from government-owned Slovenian Sovereign Holding for €250m, while Cinven tabled an ultimately unsuccessful bid for national telecoms operator Telekom Slovenije.

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• Topics
• CEE
• Buyouts
• Infrastructure
• Poland
• CVC Capital Partners
• Cinven
• Slovenia
• EBRD
• Apollo Management