Tauron Wydobycie is currently one of the major steam coal producers in Poland. It extracts and sells hard coal in three Mining Plants: Sobieski, Janina and Brzeszcze. The company has the largest reserves of thermal coal in Poland.
Tauron received from the State Treasury, represented by the Ministry of State Assets 100% purchase offer shares of Tauron Wydobycie for PLN 1.
“The offer made by the State Treasury to purchase mining assets is a significant step in the implementation of one of the most important structural processes implemented in the Tauron Group in recent years,” said Paweł Szczeszek, president of the Tauron Group.
“Estimated at a >> symbolic zloty <<, the value of the Treasury's offer results from the valuations that take into account both the current condition of the mines and the financial needs of mining plants in the long perspective of their operation, consistent with the government plans" - added Jacek Pytel, president of Tauron Wydobycie.
The offer to buy back the mining assets of Tauron by the State Treasury is the next step in ordering the ownership structure of the hard coal mining industry in the context of the public support program for this industry, which has been implemented since this year.
Earlier, the State had already bought blocks of shares of Polska Grupa Górnicza (PGG) from companies controlled by the State Treasury, paying PLN 1 for each stake – a total of PLN 7.
Simultaneously with the preparations related to the separation of mining assets, Tauron is preparing to spin off its coal-based generation assets to the future National Energy Security Agency.
The Ministry of State Assets has a letter from the President of the Office of Competition and Consumer Protection, which stated that there is no obligation to notify and obtain the consent of the Office of Competition and Consumer Protection for the transaction in question.