July 6, 2022

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Grab the Lotus Collection.  Orlen issues a statement and cuts off speculation

Grab the Lotus Collection. Orlen issues a statement and cuts off speculation

One of the conditions for the Orlen and Lotos merger set by the European Commission was to find a partner who would take more than 80%. Lotus shares and 30 per cent. Shares in a refinery in Gdansk.

According to information from Radio Zeit, Saudi Aramco will be the partner in purchasing part of the refinery. Lotos stations will be purchased by the Hungarian MOL.

These reports were echoed in his tweet by the president of the civic platform, Donald Tusk, Who wrote that the sale of Lotus to a Hungarian is connected to Moscow, means that “Kaczynski is more Russian than the worst pessimists think.”

Orlin responds to opposition politicians:

PKN Orlen spokeswoman Joanna Zakryuska made a new statement to the group Sunday night. “We would like to inform you that negotiations with partners on remedial measures in connection with PKN Orlen’s takeover of the Lotos Group have not been completed” – we can read.

“Therefore, media reports about the selection of potential partners are just speculation. And repeating them, what opposition politicians do, is an offense” – wrote Zakruzka, which can be considered in response to Donald Tusk’s tweet.

“At the same time, it must be emphasized that from the very beginning of the process, PKN Orlen aimed to negotiate such terms that would provide tangible benefits to both companies, their shareholders and customers, and ensure energy security for the Polish economy. The priority of the talks was and this has not changed”- added in the statement.

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“Any allegations about the alleged privatization of the Lotos Group are also abuse. The merger will involve two companies with the same owner and hitherto competing with each other, which is unusual in the European market. In addition, PKN Orlen aims to select these partners to implement remedial measures that will enable development of potentially acceptable assets.

Official confirmation of the asset acquisition will be announced next week.

PKN Orlen will merge with Lotos by mid-2022.

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