October 6, 2022

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More than a third of Orlen is owned by the state treasury.  Growth after merging with Lotus

More than a third of Orlen is owned by the state treasury. Growth after merging with Lotus

From August 1, PKN Orlin and the group lotus They are officially one company. The companies were merged, resulting in – according to the president of Orlen Daniel Obajtik – is to have, among other things optimization of procurement and logistics costs oil.

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The state treasury’s stake in Orleans has increased

Both Orlinwhat or what lotus They were state-owned companies. After the merger, the state’s stake in the combined Orlen Corporation increased. Currently, the State Treasury represented by the Minister of State Funds owns 223 million 414 thousand 424 shares of PKN Orlen, which constitute 35.66% of the company’s capital and authorizes it to exercise 223 million 414 thousand 424 votes in the general assembly meeting. of the company, which is 35, 66 percent of the total number of votes ”- we read in the statement of the company’s stock exchange.

More information from the country On the home page Gazeta.pl

Before the merger, the Treasury’s stake was 27.52 percent. The process thus increased by 8.14 percentage points.

Orlin’s rating is increasing

US agency Moody’s raised Orlen’s rating, the company’s credibility rating, to the highest in history – Baa1 – notifying PKN Orlen in a statement. The company’s core credit rating has also been upgraded.

According to Orlen, this is related to the merger with Lotos and the upcoming merger with PGNiG. “We are investing in the development of the ORLEN group, strengthening the existing ones and entering into the new, promising areas of activity, effectively integrating entities from the energy sector in Poland and the region. At the same time, we achieve solid financial results and keep the company’s debt under strict supervision. Our actions bring tangible results, which is noted by Moody’s “- said PKN Orlen’s president, Daniel Obajtik.

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