Poland's PKN Orlen launched bidding for Unipetrol
Previously, the company announced its plans to take full control of Unipetrol by launching a bid to acquire the remaining shares of the company.
The company will reportedly offer 380 crowns ($18) for each remaining share in Unipetrol and the buyout is expected to run until January 30, 2018.
Meanwhile, Paulinino Limited, the largest minority shareholder of Unipetrol, reportedly agreed to sell its 20% stake to PKN Orlen in a voluntary tender offer next week. The acquisition came in line with PKN Orlen’s aim to own at least 90% of Unipetrol’s shares.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- What propels PE prices higher in China?
- Vietnam PP, PE markets keep rising but some cautiousness remains
- Malaysia PP exports almost triple in February
- Spot ethylene markets rally on diminishing supply in Asia, Europe
- Will European PP markets change direction after 3 months?
- Turkish PP, PE players leaving market for holiday with firm post-Eid expectations
- June PVC hikes exceed expectations in Asia, sustainability under discussion
- Import PS, ABS markets recover amid upstream gains in Egypt
- PP, PE markets on a slight uptrend in Indonesia despite Ramadan lull
- European PE hovers around 11-year low, is reversal near?