Deals
Poland Selling Utility PGE Stake to Help Finance Budget Gap
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Poland may raise as much as 2.5 billion zloty ($796 million) from the sale of a stake in PGE SA, the country’s largest power utility, two people familiar with the transaction said.
The government is seeking to sell as much as 7 percent to institutional investors today, with the price range set at 19 zloty to 19.2 zloty a share, said the people, who declined to be named because the information is private. PGE sank 4.7 percent to 19.32 zloty at 4:47 p.m. in Warsaw, valuing the company at