Orlen targets Polyolefins takeover

Orlen has submitted an updated, non-binding offer to acquire all shares in Grupa Azoty Polyolefins (GAP) from remaining shareholders and financing institutions, the company said in a statement. The proposed transaction is valued at PLN 1.14 billion.

Orlen currently holds a 17.3% stake in GAP and is seeking full control of the company. The offer assumes the acquisition of GAP shares and assets free of encumbrances…