— We enter Orlin. This is a continuation of the fuel safety inspection – The acting spokesman for the Financial Supervision Bureau said on Thursday. He added that the observers This time they were allowed into Orléans. They should focus on the documents related to the merger of Lotos and Orlen.
In February, the Supreme Audit Office published a report that showed that PKN Orlen, in connection with the implementation of remedial measures during the merger with Lotos, It sold assets to private entities worth at least PLN 5 billion less than their value estimated by the Supreme Audit Office.
We were the first to describe this report at Business Insider Polska.
As the Supreme Audit Office pointed out, the sale of shares in the Gdańsk refinery to Aramco was approximately PLN 3.5 billion below the valuation value. At the same time, Aramco has gained a very strong position in Rafineria Gdańska sp. o., including the right to veto key strategic decisions in the management of the company.
Acquisition of Grupa Lotos by PKN Orlen in August 2022 (previously – in April 2020 by Energa Group and in November 2022 by PGNiG) This was done as part of the construction of a multi-energy project by PKN Orlenwhich was aimed at increasing the company's competitive capabilities in international markets and Poland's energy security.
In January 2022, in accordance with the antitrust requirements of the European Commission, PKN Orlen submitted planned remedial measures in connection with its intention to acquire Grupa Lotos. It was agreed, among other things, that Saudi Aramco would buy 30 percent. A share of the Gdańsk refinery, and the Hungarian MOL will acquire 417 gas stations of the Lotus chain located in Poland.While PKN Orlen will buy 144 gas stations in Hungary and 41 gas stations in Slovakia from MOL.
See also: The Public Prosecutor's Office may investigate the merger of Orlin and Lotus. NIK is analyzing more steps
In June 2022, PKN Orlen received approval from the European Commission to merge with Grupa Lotos. In July 2022, the merger was approved by Grupa Lotos shareholders – by approximately 98.9%. The votes – and PKN Orlen shareholders – are approximately 98.3 percent. Votes. PKN Orlen completed the acquisition of Grupa Lotos on 1 August 2022 by registering the merger with the District Court in Łódź.
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