DZP advises PGE on sale of Towarzystwo Funduszy Inwestycyjnych Energia

DZP has advised PGE Polska Grupa Energetyczna S.A. on the sale of all shares in Towarzystwo Funduszy Inwestycyjnych Energia to Powszechny Zakład Ubezpieczeń (PZU).

Polska Grupa Energetyczna, Poland’s largest power company, generates nearly 40% of all Polish electricity. Through the sale of shares in TFI Energia, our client aims to focus on the core business of the PGE Group, which is the generation, distribution and sale of electricity.

The preliminary agreement between PGE and PZU was signed on 17 March. The transaction is expected to be finalized in mid-2022, upon obtaining clearance from the Polish Financial Supervision Authority and the Competition and Consumer Protection Office.

Our assistance included comprehensive legal advice on the transaction, provided by Piotr Jackowski, Senior Associate from the Capital Markets and Financial Institutions Practice, supported by Katarzyna Biarda, Associate. Work for PGE was supported by Andrzej Foltyn, Head of the Practice.