20:14 9 September 2026
Orlen could take major PGZ stake
Poland is considering a major ownership restructuring of state defense group PGZ, with other state-controlled companies potentially acquiring as much as 45 percent of its shares. State Assets Minister Wojciech Balczun confirmed that changes are being considered for next year, while Orlen has been identified in media reports as the leading candidate to take a significant stake in the defense holding.
Balczun said PGZ is entering an exceptionally strong period, supported by large military orders, record Polish defense spending, European Union SAFE financing and plans to expand exports. A transaction involving Orlen would connect Poland’s largest energy group with an expanding defense sector, although no final structure has been announced. Any ownership change would represent one of PGZ’s largest restructurings in years and comes as Warsaw seeks to increase domestic production capacity alongside its extensive purchases of foreign military equipment.
Source: money.pl
