November 29, 2022

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Media: Orlen will sell part of Lotos to Saudis and Hungarians.  canine react

Media: Orlen will sell part of Lotos to Saudis and Hungarians. canine react

According to Radio Zeit, PKN Orlen has reached an agreement to sell part of Lotos’ shares with Saudi Aramco and Hungarian MOL. The deal is expected to be announced next week.

It is necessary to sell part of Lotos shares (30% of shares and 80% of terminals). The European Commission set this condition, giving its approval to the merger of PKN Orlen and Lotos, which is due to take place this year.

Saudi Aramco is the biggest concern in terms of daily oil production. Hungarian MOL is the largest oil and gas company in Central Europe.

Joanna Zakryuska, a spokeswoman for PKN Orlen, confirmed that negotiations are still ongoing. Zakrowska wrote: “Negotiations with several potential partners are still ongoing. Their influence will be beneficial to both the ORLEN group and the entire Polish economy. We will report, as always, about binding decisions in this matter, in stock exchange reports” on Twitter.


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