Profil:
Orlen SAUPDATE: Orlen energy makes non-binding offer to buy all Grupa Azoty Polyolefins shares for PLN 1.022 bln
Poland's largest energy concern Orlen has made a non-binding offer to listed chemicals group Azoty to purchase all shares in Grupa Azoty Polyolefins for PLN 1.022 billion (EUR 239.7 mln), the company said in a market filing.
Orlen currently holds a 17.3 percent stake in Grupa Azoty Polyolefins.
It has been announced that the offer involves the acquisition of all GAP shares, including GAP's assets, free of all encumbrances on a cash-free, debt-free basis.
The offer concerns Orlen providing Grupa Azoty Polyolefins with the financing necessary to restructure all debts and claims and to purchase all GAP shares from other shareholders.
The offer is non-binding and depends on conditions including GAP's debt restructuring, agreement on share purchase terms, satisfactory due diligence for Orlen, and required corporate approvals.
Orlen's offer is valid until December 31, 2025, and the transaction is expected to be finalized by June 30, 2026.
It was indicated that the company's offer is in line with the implementation of the Orlen 2035 Strategy in terms of selective investments in the polymer and petrochemical value chain.
alk/ nl/