Press release | 2011-08-23 | 12:45 PM

Vattenfall signs sales agreement with Tauron S.A. for Polish GZE

Today, 23 August, 2011, Vattenfall reached an agreement with the Polish energy producer and supplier Tauron S.A. for the sale of Vattenfall’s Gornoslaski Zaklad Electroenergetyczny (GZE), the leading electricity distribution, network services and electricity sales company in Upper Silesia.

The parties agreed on an enterprise value of PLN 3.5 billion for GZE (approximately EUR 838 million or SEK 7.7 billion). The equity value amounts to PLN 4.6 billion for GZE (approximately EUR 1.1 billion or SEK 10.2 billion), to be paid in cash.  

Vattenfall and Tauron expect the transaction to be completed by the end of 2011 after competition authority approval has been obtained.  

Vattenfall discloses the information provided herein pursuant to the Swedish Securities Market Act.

From Vattenfall's Press Office, telephone: +49 30 8182 2320, stefan.mueller@vattenfall.com