PGNiG and Tauron will be allowed to build a new power plant in Stalowa Wola. The President of UOKiK granted her consent for KGHM to take over Zakład Uzdrowisk Kłodzkich and agreed to implement a concentration on sales and production market of aggregates, ready-mix concrete and investment funds.

The activity of PGNiG covers exploration and exploitation of crude oil and natural gas, as well as import, storage and sales of gaseous fuels. Tauron sells electricity and exerts control over, inter alia, Stalowa Wola Power Station (Elektrownia Stalowa Wola). The planned concentration consists in creating by PGNiG and Tauron a new joint undertaking called Stalowa Wola Power Station. The company will be responsible for construction and exploitation of a new gas and steam plant producing electricity and heat based on the gaseous fuel provided by PGNiG.

Furthermore, the concentration of KGHM First Closed-End Non-Public Assets Investment Fund (KGHM Investment Fund) and Zakład Uzdrowisk Kłodzkich has  been approved. KGHM Investment Fund belongs to KGHM Polska Miedź conglomerate. Zakład Uzdrowisk Kłodzkich (Kłodzko Health Resorts) runs hospitals and health resorts, produces and sells, among others, curative water. The transaction is aimed at purchasing by KGHM Investment Fund 90% of shares of the capital of Zakład Uzdrowisk Kłodzkich.

Also taking control over Ennstone by Lafarge Aggregates and Concrete (Lafarge Kruszywa i Beton) was not objected by the President of UOKiK. The concentration participants produce and sell ready-mix concrete, sand and gravel.

Further consents concern establishing new closed-end investment funds. Four undertakings operating in the financial market - MCI Management, MCI Capital TFI, National Capital Fund and IIF – will be allowed to establish a new undertaking called Internet Ventures Closed-End Investment Fund. Moreover, National Capital Fund, TFI Satus, Satus Venture, Kineo, IQNET, 19 other undertakings and 4 natural persons who are not undertakings will establish Closed-End Non-Public Assets Investment Fund Venture Capital SATUS.

Upon the completion of the antitrust proceedings, the President of UOKiK decided that the concentrations will not significantly restrict competition in Poland.

Under the regulations in force, the transaction is subject to a notification submitted to the antitrust authority if the transaction participants' total turnover in the year preceding the notification exceeded EUR 1 billion worldwide or EUR 50 million in Poland. 

Information on all antitrust proceedings related to concentrations conducted by UOKiK is available at the Office’s  website.

Additional information for the media:
Małgorzata Cieloch, Spokesperson for UOKiK
Department of International Relations and Communication
Pl. Powstańców Warszawy 1, 00-950 Warszawa
Tel.:(+48 22) 827 28 92, 55 60 106, 55 60 430
faks (+48 22) 826 11 86
E-mail: [SCODE]bWFsZ29yemF0YS5jaWVsb2NoQHVva2lrLmdvdi5wbA==[ECODE]