Bogdanka further integrates with Enea Group

Enea continues the process of integration of Lubelski Węgiel Bogdanka with the Group commenced last year. Another step on this path is proposals of amendments in LWB’s Statute enabling the realisation of the process. The integration serves the building of possibly the best result of the raw materials and energy concern.

The course of the integration process is evolutionary from the moment Enea became a strategic investor in LWB. Further actions connected with the incorporation of Bogdanka into Enea Group is the realisation of earlier declarations.

- Proposals of amendments in Bogdanka’s Statute are to adjust this document to Enea Group’s standards and enable us a simpler and closer cooperation - said Wiesław Piosik, vice-president of Enea for corporate affairs, member of the Supervisory Board of LW Bogdanka. - The integration with the Group will improve LWB’s efficiency and enable an optimum exploitation of synergies. As a strategic investor we care for a good standing of Bogdanka and building possibly the best result of the raw materials and energy concern - added Piosik.

The Extraordinary General Meeting of Shareholders of LW Bogdanka, at which decisions will be made regarding amendments to the statute, was convened for 12 April.

Enea is a renowned seller, distributor and producer of electricity and heat. Lubelski Węgiel Bogdanka on the other hand is the most efficient mining enterprise in Poland. Enea is the key recipient of the mine’s products, and Bogdanka is the largest supplier of fuel for core coal-based sources of power generation which Enea holds in Kozienice Power Plant. The companies are listed on the Warsaw Stock Exchange. In October 2015, Enea took over the controlling interest in Bogdanka after the successful tender offer for shares. Enea is the majority shareholder of the coal company.