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Orlen SACORRECTION: Poczta Polska to acquire minority stake in Orlen Paczka after agreeing on terms
Poland's largest energy concern Orlen has signed a term sheet with Poland's postal operator Poczta Polska which determines the terms of cooperation between the companies in the commercial courier delivery market, Orlen announced in a market filing. After agreeing on the terms, Poczta Polska will acquire a minority stake in Orlen Paczka.
#adding the missing information on Poczta Polska as the other party to the term sheet agreement#
"According to the signed term sheet, once the final terms of the agreement are finalised, Poczta Polska S.A. will acquire a minority stake in Orlen Paczka Sp. z o.o.," Orlen said in the market filing.
"In the next step, the parcel machines, owned by Poczta Polska S.A., will be transferred to Orlen Paczka assets. This will enable to achieve measurable synergies from the combined courier businesses in the short term. Finally, Poczta Polska S.A. will be able to acquire 100 percent shares of Orlen Paczka," it added.
Orlen holds a 100 percent stake in Orlen Paczka, which operates in the commercial courier delivery market.
ao/