Polish power company, Polska Grupa Energetyczna (PGE) is planning to launch a bid for Warsaw heating distribution company, SPEC, The Wall Street Journal reports. Czech private equity firm, Penta Investments, has also shown interest in SPEC.

The Polish capital rolled out a bid earlier this month to sell an 85% stake in SPEC. Bank Zachodni, which is acting as an advisor on the deal, has valued the company around $524.2 million.

Click here for the story from The Wall Street Journal.