No. 87/2022 | 30-11-2022 | 14:20
Conclusion of agreements with MOL Hungarian Oil and Gas Public Limited Company as part of the finalization of the implementation of remedies according to conditional decision of the European Commission on taking control by PKN ORLEN S.A. over Grupa LOTOS S.A.
PKN ORLEN S.A. (PKN ORLEN”, „Company”) informs that in order to implement remedies specified in the decision of the European Commission as of 14 July 2020 on concentration of taking control by PKN ORLEN over Grupa LOTOS S.A. headquartered in Gdańsk (“Grupa LOTOS”) in retail market area, on 30 November 2022, the Company signed with:
1) MOL Hungarian Oil and Gas Public Limited Company („MOL”), the final agreement for the sale of 100% of shares in LOTOS Paliwa for the price which consist of fixed element in the amount of ca. USD 610 m and variable element, depending on the level of net debt and working capital of LOTOS Paliwa as on the day of signing of the final agreement;
2) LOTOS Paliwa, the agreement on sales of fuels to LOTOS Paliwa, effective for a period of up to 8 years from the date of its entry into force;
3) LOTOS Paliwa, the licence agreement specifying the terms and conditions for the use by LOTOS Paliwa of the trademarks used at LOTOS stations for the purpose of rebranding them after the acquisition of shares in LOTOS Paliwa by MOL, effective for a period of 5 years from the date of its entry into force.
At the same time the Company informs that works to complete the final agreement on the base of which companies form ORLEN Group will acquire from MOL fuel stations located in Hungary and Slovakia from MOL are under way.
See also: regulatory announcement no 1/2022 as of 12 January 2022, no 2/2022 as of 12 January 2022, no 38/2022 as of 1 August 2022.