New company joins the ORLEN Group
PKN ORLEN bought 100% of shares in the Swedish company Aktiebolaget Grundstenen 108770 from Svenska Standardbolag AB. The nominal value per purchased share is SEK 100 (approx. PLN 40.40 at today’s average NBP exchange rate). The price of the purchased shares was SEK 500 000 (202 000 PLN) and has been covered by the corporation in cash.
This transaction is the result of preparations in connection with the Eurobond formula chosen by the Corporation. The bonds will be issued between June and July 2007. PKN ORLEN will not issue and redeem the bonds itself, but shall dedicate a special company to this purpose.
Upon completion of the formal stages of this acquisition, the company’s name will be changed and its primary purpose shall be the ownership and management of tangible and intangible assets. The managing body of the newly acquired company will be a four-person management board appointed by PKN ORLEN.
Aktiebolaget Grundstenen will terminate its operations upon redemption of the entirety of PKN ORLEN’s Eurobonds.
PKN ORLEN’s selling partner in this transaction - Svenska Standardbolag AB seated in Falun (Sweden) – is involved in divestments and liquidations of companies.
