The merger of Orlen with PGNiG is very important for Poland’s energy security, says President Daniel Obaitek. He gave out the date of the merger.
After the merger of PKN Orlen with Energa and Lotos, as well as the acquisition of Ruch, it was time to merge with PGNiG. On Telewizja Polska, Orlen President Daniel Obaitek spoke about the planned takeover.
PGNiG will join Orlen
President Daniel Obaitek announced the dates of the general meetings at which the shareholders of Orlen and PGNiG will comment on the merger. - We have already announced the unification plan. This is a very important merger. General meetings of both companies are scheduled for September and October. At the turn of October and November, we plan to acquire PGNiG - He said.
PKN President Orlen also explains why subsequent mergers are so important in the context of building a diversified energy concern and its position in the international arena. - Firstly, we balance hydrocarbon purchases, which makes us a very attractive client. Secondly, we will carry out the fuel and energy transformation together. This will ensure the existence of the Poles. After all, we will fight not with the consequences, but with the causes. Thirdly, we will be such an attractive concern in the region that we will be able to enter into various alliances and bind ourselves - including investments - in order to be immune to all sorts of shocks in the world - emphasized the president of Orlen.
The state will strengthen control over Orlen
The president of the country’s largest fuel concern also stressed that the mergers are of strategic importance for Poland’s energy security. It stated that with each subsequent takeover, the share of the State Treasury in the structure of the company’s shareholders increases.
- Now the State Treasury has 27 percent. Orlen shares. After the acquisition of Lotos, he has 36, and after the acquisition, PGNiG will have almost 50 percent. The State Treasury consolidates its stake in the shareholder structure and thus enhances national security. We will do these mergers because they stabilize security, but most of all they stabilize prices. Daniel Obaitek said.
Source: Wprost
