Trans Polonia bought 100% Orlen Transport's shares for PLN 84,5 mln
10:26
PKN Orlen [a Polish oil refiner and petrol retailer] and Trans Polonia [transport and logistics of liquid chemical raw materials company] agreed on purchase/sale of 100 percent shares of Orlen Group's transport company. The transaction value is approximately PLN 85 million and covers all Orlen Transport's assets.
"As a result of transaction's closing, the company owned by Trans Polonia became a 100 percent shareholder in Orlen Transport and sales of assets amounted to PLN 84,5 million. The final price will be adjusted for differences arising from the current level of Orlen Transport's net debt and working capital, which is estimated to be about PLN 4 million," the officials said.
However, accroding to Orlen's official website, sale of transport's assets is a part of PKN Orlen's strategy, which involves focusing on key terms of the company's activity areas: development of the downstream segment, retail, exploration and production. Orlen Transport will come in turn to a group that provides specialized services in the field of transport and logistics throughout Europe.
