No. 41/2020 | 23-07-2020
PGNiG: Conclusion of a cooperation and non-disclosure agreement with PKN Orlen regarding notification of the intention to carry out concentration and to conduct the due diligence process
The Management Board of Polskie Górnictwo Naftowe i Gazownictwo SA (“PGNiG”, “Company”) announces that on July 23 2020 PGNiG and Polski Koncern Naftowy Orlen S.A. (“PKN Orlen”) signed a cooperation and non-disclosure agreement ("Agreement") aimed at, inter alia, the preparation and submission by PKN Orlen the notification of intention of concentration with a Community dimension within the meaning of the provisions of Council Regulation (EC) No. 139/2004 of January 20, 2004 on the control of concentrations between undertakings (the EC Merger Regulation) and conducting the due diligence process at PGNiG.
The parties obliged to take all necessary measures to ensure that the disclosure of information in connection with the Agreement complies with the provisions of law, in particular with respect to the provisions of competition law.
The signing of the Agreement is related to the letter of intent signed on July 14, 2020 by PKN Orlen and the State Treasury - the Minister of State Assets, on the commencement of the process of taking over control of PGNiG by PKN Orlen.