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Eesti Gaas and German energy group EWE AG have entered into a 120 million euro agreement to purchase EWE Polska.
Chairman of the Management Board of Infortar Ain Hanschmidt:
"Our ambition is to expand beyond the Baltic-Finnish region into Central and Western Europe, implementing our proven model and experience as a gas supplier and network operator Poland, thereby delivering the best service to consumers. The acquisition of an energy company in Poland provides us with the necessary momentum in this large and important growing gas market, while also ensuring an additional steady cash flow for the company’s shareholders."
EWE Polska is the second-largest privately-owned network operator in Poland. The company operates a natural gas distribution network of 2,316 km in western Poland, mainly around Poznan, serving over 25,000 clients. In addition to infrastructure management, the company sells natural gas and electricity, with energy sales totaling 1.2 TWh last year.
The completion of the transaction requires approval from the Polish Competition Authority, as well as corporate approval by the EWE AG Supervisory Board.
