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Vattenfall to sell two Polish heating companies

5 Mar 2002 – Energy group Vattenfall said today it was selling its holdings in two Polish district heating companies, Ostrow and Ustka, to Sydkraft.

An agreement has been signed on the sale of Vattenfall’s 23.2 per cent holding in the district heating company in Ostrow Wielkopolski in central Poland to Sydkraft.

A preliminary agreement has also been signed on the sale of Vattenfall’s 34 per cent holding in “E-MPEC”, a district heating company in Ustka on the Baltic coast.

“The sale of these holdings will facilitate for Vattenfall to concentrate its resources on our main interests in Poland, EW in Warsaw and GZE in Silesia,” says Hannu Kostiainen, Managing Director of Vattenfall Polen AB.

Ostrowski Zaklad Cieplowniczy S.A. produces and distributes approximately 180 GWh of heat and approximately 30 GWh electricity per year. The company has just over 70 employees, and is listed on the Polish OTC list. The major shareholder, with 75 per cent of the shares, is a municipal company.

The district heating company in Ustka produces and distributes approximately 50 GWh of heat per year. The company has around 40 employees. The municipality is the largest shareholder with a 51 per cent holding.

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