Orlen gets thumbs up from Czechs for Unipetrol purchase

Orlen will have to hand over 10% of the sum "soon," but will be able to finance the rest of the transaction through bank loans over the next few months. According to analysts, the price Orlen paid is rather high, as Unipetrol needs serious restructuring. However, Orlen's deputy president, Janusz Wiśniewski, who oversaw the deal, stated that the price was not high at all, as it included the company's debt and a percentage of shares in the Spolana chemical plant. Furthermore, he added that Orlen had not committed itself to any investment or social obligations. In September, Orlen will probably announce a call to purchase Unipetrol's remaining shares and may later withdraw the company from the stock exchange. (Parkiet, p.1; Puls Biznesu, pp.1, 4-5) E.B.