Poland's Enea Makes $398 Million Bid for Bogdanka Coal Miner

Updated on
  • Utility offers to buy coal producer at 29 percent premium
  • Bid doesn't reflect real value, biggest shareholder Aviva says

Enea SA offered to buy a controlling stake in Lubelski Wegiel Bogdanka SA for 1.48 billion zloty ($398 million) to combine the Polish state-controlled power utility with a privately-held coal producer. Shares in Bogdanka soared the most on record.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.