PKN ORLEN S.A. (“PKN ORLEN”, “Company”) hereby informs that on 23 July 2020 an agreement on cooperation and non-disclosure between PKN ORLEN and Polskie Górnictwo Naftowe i Gazownictwo S.A. (“PGNiG”) has been signed (“Agreement”).
The Agreement was signed in connection with initiation of a process directed to take capital control over PGNiG by PKN ORLEN. On the basis of the Agreement and within the frames of general applicable law the Company and PGNiG will cooperate to enable the Company to access information necessary to:
(i) proper preparation of application, to submit to the European Commission, of the intent on concentration between the Company and PGNiG and conducting a proceeding or proceedings regarding control of concentration initiated by its submitting and, if needed – preparation and execution of remedies.
(ii) conducting a due diligence of PGNiG.
At the same time, the Company is required to keep the confidentiality of information shared by PGNiG.
The parties agreed to take all necessary measures to respecting the law, in particular competition law, when sharing of information in connection with execution of the Agreement.
See also regulatory announcements: no 44/2020 as of 14 July 2020 and no 45/2020 as of 14 July 2020.