PKN Orlen merger with Lotos given more time by EU

The European Commission has extended the deadline for the implementation by PKN Orlen of remedial measures in connection with the planned takeover of control over Grupa Lotos until January 14, 2022, the company said.
“The new deadline for the implementation of remedial measures has been set for January 14, 2022 and results from the need to finalize the negotiation process with partners with whom talks are being held regarding the implementation of remedial measures and enabling partners to follow a decision-making path”.

Therefore, the formal completion of the merger process of PKN Orlen and Grupa Lotos will take place in accordance with the schedule in the first half of 2022.

“Our goal is to choose business partners who will guarantee energy security and dynamic development of the connected companies. We are at the last straight stage leading to the signing of contracts with partners. The extended deadline agreed with the European Commission for the submission of documents related to the implementation of remedial conditions gives us the comfort of completing all the necessary formalities”- commented the president of PKN Orlen, Daniel Obajtek.

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