PKN Orlen Takes Control of Unipetrol

  • PKN Orlen Takes Control of Unipetrol (c) PKN OrlenPKN Orlen Takes Control of Unipetrol (c) PKN Orlen

Poland’s PKN Orlen has taken 100% ownership of Czech refiner and petrochemicals producer Unipetrol with effect from Oct. 1 following the completion of a squeeze-out of remaining shareholders.

Unipetrol has also been delisted from the Prague Stock Exchange as of Sept. 26.

The squeeze-out was approved by shareholders at a meeting on Aug. 28.  Orlen bought the Czech state’s 63% share in Unipetrol in 2004. It then raised its stake to 94.03% in February following a voluntary tender offer to minority shareholders.

Unipetrol has a naphtha cracker in Litvinov producing 544,000 t/y ethylene as well as downstream plants for PP, PE. It also has a complex in Spolana where it produces PVC, caprolactam, industrial fertilizers and inorganic compounds.

Orlen announced in June its largest petrochemical investment program on record, amounting to $2.3 billion. The company said the investment would enable deeper integration of its refining and petrochemical segments and further diversify its revenue sources.


Register now!

The latest information directly via newsletter.

To prevent automated spam submissions leave this field empty.