TAURON Polska Energia starts its preparations to the potential purchase of the whole or a part of KWK Brzeszcze assets.
The team appointed by the company on 2 February will conduct a comprehensive analysis of KWK Brzeszcze comprising, in particular, legal, financial, technical and geological aspects. Moreover, as a result of the team's work, the analysis of variants will be prepared, concerning the purchase of all or a part of the coal mine assets from Spółka Restrukturyzacji Kopalń (Coal Mine Restructuring Company) or from Kompania Węglowa, including indication of effects for both variants. Opportunities of potential cooperation with the financial or infrastructural partner will be also analysed (including terms of such cooperation supported by the performed market research). Moreover, the analysis will also comprise the structure of the transaction based on the special purpose vehicle (SPV), assuming the lack of consolidation of assets purchased and, at the same time, the elimination of risk associated with the potential deterioration of TAURON Capital Group financial indicators, in particular, the net debt to EBIDTA ratio.
On 16 January this year TAURON Polska Energia expressed preliminary interest in the purchase of the whole or a part of KWK Brzeszcze assets – unless the economically viable coal extraction is possible. At that time, the company emphasises that the final decision determining the terms and conditions of the potential transaction will be preceded by a detailed analysis, in particular, in economic and technical scope.
