Polish refiner PKN Orlen is on track to take full control of its Czech unit Unipetrol after minority shareholder Paulinino accepted its buyout bid of CZK380 ($17.53) per share and sell its entire 20% stake in Unipetrol. That will increase Orlen’s stake in the Czech refiner to 83%. The deal also includes a cash payment for all outstanding debt owed by Unipetro, which was acquired from Petrobras in 2009. , it said on 13 December.
Polish refiner PKN Orlen is on track to take full control of its Czech unit Unipetrol after minority shareholder Paulinino accepted its buyout bid of CZK380 ($17.53) per share and sell its entire 20% stake in Unipetrol. That will increase Orlen’s stake in the Czech refiner to 83%. After acquiring Paulino's stake in Unipetrol, PKN Orlen plans to squeeze out the remaining minority shareholders and delist the Czech refiner’s shares from the Prague Stock Exchange, it said on 13 December.