• The PKPE Holding company has withdrawn its application to take over Elester-PKP.
• Earlier, UOKiK expressed reservations about the transaction.
• The companies operate on the railway component markets.

PKPE Holding is controlled by CVC Capital Partners SICAV-FIS, the parent company of the CVC Group. Its subsidiaries offer investment advisory services and manage investments on behalf of individual funds and platforms. Elester-PKP is
co-controlled by PKP Energetyka (a subsidiary fo PKPE Holding) and GE Power Controls. Among other products, it manufactures systems and components for overhead power engineering.

In December 2017, UOKiK presented its reservations to the merger. The Office's analysis showed the transaction could significantly limit competition on the domestic market of individual components for traction substations and earth-fault over current protection devices that power the rail network. The merger could increase the prices of those products, among other outcomes.

On 11 April, PKPE Holding withdrew its application to acquire Elester PKP. In such
a situation the antitrust law obliges UOKiK to discontinue the proceedings.

Businesses planning a merger are obliged to secure the consent to the transaction from the UOKiK president if in the previous year their combined sales exceeded EUR 1 bln globally or EUR 50 mln in Poland.

Additional information for the media:

UOKiK Press Office
Pl. Powstańców Warszawy 1, 00-950 Warszawa
Phone +48 695 902 088
Email: biuroprasowe@uokik.gov.pl
Twitter: @UOKiKgovPL