Poland sells “daughter” of NOVATEK – Kommersant
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Poland is engaged in the sale of NOVATEK’s subsidiary Novatek Green Energy, said the Polish Minister of Development and Technology of the Republic, Waldemar Buda. He did not name the amount of the transaction and the potential buyer.
“We have previously made decisions regarding NOVATEK. The process is already very advanced. We are in the process of selling this property,” Mr. Buda told reporters (quoted by RIA Novosti).
He clarified that Polish law does not yet allow seizing the company’s property. It is assumed that the proceeds from the transaction will not be given to the owners of Novatek Green Energy, but will be frozen.
Novatek Green Energy sold propane-butane and liquefied natural gas in Poland. The company owned an 85-kilometer distribution network. After being placed on the sanctions list, the Polish government ordered the Polish PSG to use this infrastructure to continue providing services to consumers.
Poland introduced forced management into Novatek Green Energy in the fall of 2022. The head of NOVATEK, Leonid Mikhelson, called this decision a robbery. He said that the company went to court in Poland, as well as to the European Court.
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