17.10.2005
Final Stage of the Czech Buy-Out
The subscription for the shares of Unipetrol, Spolana and Paramo, carried out by PKN ORLEN in relation to the announced mandatory tender offers, has finished. Minority shareholders expressed an interest to sell shares representing the share capital of 3.7% of Paramo, 3.6% of Spolana and 0.0014% of Unipetrol.
The process ended on October 12th. According to the report of Patria Finance, the broker authorized to conduct the mandatory tender offers, minority shareholders agreed to sell 49 660 shares of Paramo, 277 671 shares of Spolana, and 2 461 shares of Unipetrol. The total value of the shares to be purchased by PKN ORLEN amounts to CZK 91,97 mln.
The final closing date of the transactions is planned for October 19th 2005.
