A strategic alliance with the world’s largest oil supplier makes sense, Pavel Boris, head of the FIU, emphasizes. The economist also referred to the amount for which shares of Rafineria Gdańska were sold.
Comments on the merger of PKN Orlen with Grupa Lotos are not hushed up. Particular attention is paid to the sale of 30 percent. shares of Rafineria Gdańska in favor of Saudi Aramco. The president of the Polish Development Fund, Pawel Borys, was asked about this case.
Merging Orlen with Lotos makes sense
“From an economic standpoint, the Lotos refinery with these EV trends will probably be out of business within 15 years. Such a merger makes sense, because the entire fuel company needs to be transformed. In this perspective, refining capacity across Europe will decline - This was stated by the President of the Polish Development Fund Pawel Borys on TVN24.
– On the other hand, we need diversification of oil supplies. A strategic alliance with the world’s largest supplier, Saudi Aramco, makes sense in terms of Poland’s economic interests. Pavel Boris said. He added that the partner was recognized and the shareholders were presented with all the key terms of the agreement.
Shares of Rafineria Gdańska sold cheap?
Pavel Boris also referred to the repeated question of whether 30 percent. shares of Rafineria Gdańska were not sold too cheaply. The amount that is publicly mentioned is about PLN 1.2 billion. This is much less than the company’s annual profit.
“You have to look at everything. The value of this transaction can be created at various levels. If, for example, the purchase price of crude oil from Saudi Arabia is at an attractive level, then for the remainder of the shares held by PKN Orlen, this is the value that should be valued in the transaction - explained the President of the FIU.
Source: Wprost
