Trans Polonia buys 100% of Orlen Transport's shares for PLN 84.5 mln
11:17
PKN Orlen [a Polish oil refiner and petrol retailer] and Trans Polonia [a raw liquid chemical materials transport and logistics company] agreed on purchase/sale of 100 percent of the 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 the transaction 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, according to Orlen's official website, sale of transport's assets is 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 be become a group that provides specialized services in the field of transport and logistics throughout Europe.
