EC's clearance for acquisition of Mazeikiu Nafta
European Commission (European Commission Directorate General for Competition) has agreed to the purchase of a controlling stake in AB Mazeikiu Nafta by PKN ORLEN from Yukos International UK. B.V. and Lithuanian Government.
Due to the investigation dedicated to fire on October 12, 2006, PKN ORLEN S.A. and Yukos International have agreed that the purchase by PKN ORLEN S.A. of Yukos International’s 53.7% stake in Mazeikiu will be completed no later than 28 February 2007, subject to the satisfaction or waiver of all conditions to closing set forth in the Sale Agreement. PKN ORLEN S.A. intends to close the transaction as soon as possible, possibly before the end of this year. Yukos International has agreed not to contest, without reason, PKN ORLEN’s motion to close the deal at an earlier date.
