Unipetrol - Shell negotiates on consortium with several companies

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Investiční bankovnictví KB

      Shell International, subsidiary of Royal Dutch/Shell said on Friday that it negotiates with several companies on possible tie for final bid in Unipetrol’s privatization. The company confirmed that one of them is KazMunaiGaz.

       KazMunaiGaz led the ranking based on preliminary offers, which reached CZK 16bn. Speculations that KazMunaiGaz returned into privatization race revived the speculation on higher privatization revenues and subsequent buyout at favorable price. Nevertheless, the Czech government did not allowed it to proceed to the last round of the privatization reportedly citing strategic interests of the country. If the government remains consistent with its previous statements, the possible Shell/KazMunaiGaz consortium should not become one of the front-runners in privatization of Unipetrol and expectations of post-privatization buyout should calm down.

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