No. 42/ 2020
PKN ORLEN S.A. (“Company”) discloses the following inside information, publication of which was delayed on 18 June 2020:
“PKN ORLEN (“Company”) informs that on 18 June 2020 the Company’s Management and Supervisory Boards approved the final version of remedies that will be finally implemented to the document called FORM RM, prepared according to the template indicated in the Commission Regulation (EC) No 802/2004 of 7 April 2004 implementing Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (Official Journal L 133, page 1) as well as the document including the Company’s commitments, prepared according to the model text of commitments published by the European Commission, specifying structural and behavioral commitments that concern the structure and policy of the companies attending the concentration, i.e. the Company and Grupa LOTOS S.A. with the registered office in Gdansk (“Grupa LOTOS”) (“Remedies”), the execution of which will ensure the compliance of the concentration, i.e. taking control over Grupa LOTOS by PKN ORLEN (“Transaction”), with the common market. The obligation to execute the Remedies will be the basis for the European Commission decision to recognize the concentration is compatible with the common market.
The scope of Remedies approved today has been agreed with the European Commission during the proceedings lasting from 3 July 2019. As the European Commission has not made any comments on the Remedies finally presented by the Company, the Company assumes that it is probable that the European Commission will decide that the concentration between the Company and Grupa LOTOS is compatible with the common market. The European Commission appointed the probable date for the decision to 22 July 2020.
See also: regulatory announcement no 26/2018 as of 27 February 2018, regulatory announcement no 106/2018 as of 30 November 2018, regulatory announcement no 31/2019 as of 3 July 2019 and regulatory announcement no 34/2019 as of 26 August 2019.
On the base of Art. 17 item 1 and 4 of the Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC.”