Orlen finalizes Unipetrol takeover

WSE-listed fuel giant Orlen bought 31.04 percent stake in its Czech unit Unipetrol for PLN 3.5 billion, the company said in a market filing. After the transaction, Orlen will control 94.03 percent stake. “Following the purchase, the group's net debt will remain at a safe level and should have no impact on a rating change,” the company explained. Back in December, Orlen launched a tender offer for Unipetrol’s shares at CZK 380 apiece.