Poland’s largest oil refiner, PKN Orlen, is set to become the sole shareholder of its Czech subsidiary Unipetrol after shareholders agreed to the forced buyout of shares representing approx. 5.97 percent of the share capital.
Currently, PKN Orlen holds a total of 170,507,091 Unipetrol shares, representing approximately 94.03 percent of the Unipetrol share capital. The decision of the general meeting was preceded by the transfer of the required documents and obtaining approval of the Czech National Bank for buying shares at the proposed price of CZK 380 per share
The PKN Orlen Group manages six refineries in Poland, the Czech Republic and Lithuania, and also carries out production activities in Poland and Canada. Its consolidated sales revenues reached PLN 95.36 billion in 2017. The company has been listed on the Warsaw Stock Exchange since 1999.