• UOKiK has issued a competition concern regarding the takeover of Elester-PKP by PKPE Holding.
• The concentration may result in a restriction of competition.
• The concern is by no means determinative of the possible final ruling in this case.

PKPE Holding is controlled by CVC Capital Partners
SICAV-FIS, which heads the CVC Group. Companies of the Group provide investment advisory services and manage investments on behalf of individual funds and platforms. Elester-PKP is jointly controlled by PKP Energetyka (a subsidiary of PKPE Holding) and
GE Power Controls. Its product range includes systems and components for traction power engineering.

In April the case was referred to the second stage of proceedings. A market research was necessary to verify data submitted by the acquirer and to assess market shares of the undertakings involved in the transaction. It was also necessary to define relevant markets affected by the transaction.

The analysis conducted by UOKiK has demonstrated the intended transaction may result in a significant restriction of competition on the national market for specific components of traction power substations and electronic earth fault protection systems (EZZ) supplying the railway power grid, and therefore, may have a negative effect of increase in prices of these products.

14 days to respond

In the cases where there are reasonable grounds to believe that the concentration will result in a restriction of competition, UOKiK shall submit its concern about the intended transaction to the undertaking(s) involved in the concentration scheme. The concern notification includes justification and is by no means determinative of the final outcome of the proceedings.

In accordance with the provisions of applicable laws, the undertakings involved have
14 days to respond to the concern. This term may be extended by further two weeks at the request of the undertakings involved.

Additional information for the media:

UOKiK Press Office
pl. Powstańców Warszawy 1, 00-950 Warsaw
Phone: +48 22 55 60 430
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