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Following completion of its public offer launched last 17th December, Dalkia has become, with 97.9 % of the shares, the majority shareholder of Praterm, a Polish district heating company. The transaction has strengthened Dalkia’s positions in Poland, where it already owns and operates two of the country’s largest heating networks, in Poznan and Lodz.
Building on its strong regional base in Lodz and Poznan, Dalkia has now extended its business nationwide with the acquisition of Praterm, which serves 21 cities in North, South and Southeast Poland. With 260 kilometres of small and mid-sized heating networks, Praterm produces and distributes heat to nearly 520,000 people and will generate in 2008 an estimate revenue of €55 million.
The two companies also offer a strong business fit. Praterm, whose core business is district heating, recently acquired a Polish company that operates a biomass-fuelled heating plant. This will enable Dalkia to enhance its renewable energies offering for Polish cities, in line with its strategic commitment to developing operations that help to promote the use of renewables.
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“The Praterm acquisition fits naturally with our growth strategy in Central Europe,” said Dalkia Chairman Olivier Barbaroux. ”Thanks to this investment, Dalkia will quickly gain strong positions in mid-sized cities, which will be our future growth drivers in Poland. By pooling Praterm’s potential with our expertise, technology and long-term investment vision, we will be able to generate synergies and seize new business opportunities.” |
Launched last 17th December, the offer was approved by Polish competition authorities on 7th February. At its close, Dalkia had acquired 10,344,500 Praterm shares. This offer represents for Dalkia a total investment of €142 million.
A subsidiary of Veolia Environnement and Electricité de France (EDF), Dalkia is the leading European provider of energy services to local authorities and businesses. Since its creation, it has focused on energy and environmental optimisation. It meets customer expectations by delivering customised, end-to-end solutions to ensure comfortable living and efficient energy supply, including management of heating systems and energy and industrial fluid production facilities, energy plant engineering and maintenance services, technical services for commercial and industrial building operation, and global building management services. With nearly 48,800 employees in 38 countries, Dalkia reported managed revenue of €6.9 billion in 2006.
