PKN Orlen reportedly offers USD 500m for Unipetrol

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Investiční bankovnictví KB

      Polish diary Rzeczpospolita wrote that PKN Orlen is reportedly offering about USD 500m (CZK 13.5bn) in privatization of Unipetrol. Supervisory Board of PKN Orlen approved the company’s plan to submit binding bid in privatization of Unipetrol.

       At first view the news is in contradiction with Friday’s statements of NPF’s vice-chairman Pavel Kuta. Nevertheless, given the fact the government is selling its stake in Unipetrol together with Unipetrol subsidiaries’ liabilities valued at CZK 4.2bn, the breakdown of the amount is uncertain. Moreover, PKN Orlen declined to comment on the news saying it could reveal more details only after the deadline for binding bids, i.e. 23 April.

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