Unipetrol – signing of privatization contracts was postponed

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Investiční bankovnictví KB

      Signing of the privatization contracts for Unipetrol would be postponed by several days, as both parties still negotiates final versions. Both sides, NPF and PKN Orlen, would like to sign the contracts in the coming days. Reuters said that negotiations are about adjustment of selling price if Unipetrol’s value would differ significantly compared to the audited figures for 2003. Another obstacle is reportedly Unipetrol’s liability to Ceska Konsolidacni Agentura, which has Benzina’s filling stations as collateral.

       Uncertainty and worries about delay in privatization could lead to short-term negative reaction.

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