Forvis Mazars advised Towarowa Giełda Energii (TGE) on the acquisition of NODES

The transaction represents an important step in TGE's growth strategy and strengthens the Group's capabilities in the area of innovative energy market solutions. The project also aligns with one of the key trends in the European energy sector, related to the development of flexibility services, the integration of renewable energy sources and the more efficient use of grid infrastructure.

Towarowa Giełda Energii S.A. (TGE), a wholly owned subsidiary of Giełda Papierów Wartościowych w Warszawie S.A. (Warsaw Stock Exchange), is Poland's only licensed commodity exchange and has held a licence to operate a regulated market since March 2015.

Forvis Mazars supported TGE throughout all stages of the investment process, providing M&A advisory, financial modelling and valuation services, as well as financial and tax due diligence.

We congratulate all parties involved on the successful completion of the transaction.

We would like to extend our special thanks to Towarowa Giełda Energii and the project team led by Artur Parkita for their trust and excellent cooperation.

The project was delivered under the supervision of Maciej Ptak, Head of Financial Advisory, Kinga Baran, Partner, Tax Advisory, Bartosz Łuczak, Head of M&A in Poland, and Radosław Szukiewicz, Head of Valuation Services in Poland.

The financial due diligence was led by Odd Hugo Linnerud, Partner, Transaction Services, Norway, and Jan Fido, Director, Transaction Services, Poland. The tax due diligence was led by Jørgen Grønlie, Partner, Tax Advisory Services, Norway, and Michał Jarczewski, Director, Tax Advisory Services, Poland.