Agrofert demands EUR 350m compensation from Orlen

Last week the owner of the Czech company, Andrej Babiš, estimated the possible damage by virtue of the lost income at the equivalent of about zł.1.36 billion, and stated that Agrofert would press for the compensation if Orlen refused to sell to his concern chemical companies from the Unipetrol group at the price set in April 2004, that is EUR 103 million. "Our lawyers say that such a scenario is impossible," said Chałupiec. He added that the possible consequences of breaching the agreement with Agrofert have been consulted with lawyers and the auditor. As a result, the concern created a reserve of zł.376 million, which is an equivalent of the fee Orlen would have to pay in case it violated the agreement. The completed plan of the integration of PKN Orlen with the Czech firm will be revealed in October. (Parkiet, Sept. 17-18, p. 1) A.F.