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Poland's PKN Orlen launched bidding for Unipetrol

by ChemOrbis Editorial Team -
  • 29/12/2017 (12:51)
According to media reports, Poland’s PKN Orlen launched a bid to buy the remaining shares in Czech Unipetrol this week.

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.
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