PKP Cargo will not buy operating companies Orlen – Railway Market

PKP Cargo departed from the contract acquisitions transport Orlen: KolTrans and Euronaft Trzebinia. Perhaps this means that only brought to the end of the transaction, purchasing PKP Cargo will take over the Czech AWT.

Acquisitions PKP Cargo

The biggest acquisition made by PKP Cargo was the purchase of shares in the Czech carrier Advanced World Transport (AWT). Purchase of 80% shares of the company PKP Cargo for 103.2 million euros (427.3 million zł by the then exchange rate) was the first acquisition PKP Cargo on the foreign market and one of the most important events in the company’s history, at least since the time of its IPO. PKP Cargo has completed the transaction almost exactly a year ago, at the end of May 2015.

The next on the shopping list were domestic carriers. Be the first to fell the idea of ​​acquisition of operators in the CTL Group. Later, all the effort has gone into the acquisition of carriers belonging to Orlen and KGHM. Previous managements of PKP Cargo stressed that the restructured carrier is ready to take over operators in other industrial groups. It meant the return realized on them for transport operations under the wing of PKP Cargo and the reconstruction of its strong market position. – Consistently we strengthen PKP Cargo. After the extremely successful acquisition of the Czech AWT and real expansion in the markets of southern Europe, strengthening our position in the Polish market, in addition to the segment that guarantees expand our competencies, increase profitability and competitiveness. Transport fuels and petrochemical products require high quality service. Made by PKN ORLEN choice PKP Cargo as a strategic logistics partner is another proof of the trust our customers and strong impetus to continue the dynamic development of our company for the benefit of customers, shareholders and employees – said in November 2015, Adam Purwin, the then CEO of PKP CARGO.

– we do not rule out further acquisitions, but first you have to finish those already run – also said in March the president of PKP Cargo Maciej Libiszewski. Now it seems that the acquisition did not happen. Keep in mind that only the end of the buying process which turned out to take AWT recently met with harsh criticism.

Resignation from the purchase of companies Orlen

report exchange carrier announced that together with its subsidiary PKP Cargotabor Services has decided to exercise of the right to withdraw from the conditional, requiring the acquisition agreement Orlen KolTrans and organized part of Euronaft Trzebinia. “The decision of the board of PKP Cargo to withdraw from the contract of sale was preceded by a deep analysis of the legitimacy of the transaction of acquisition of assets railway KolTrans and ZCP Euronaft. The decision is dictated by a number of identified risk factors for PKP Cargo resulting from the implementation of the agreements, in relation to the future of the market, compared with the social side to change of ownership of assets and the protracted proceedings before UOKiK and the anticipation of the approval of the President of UOKiK for concentration, “- wrote the company in a statement.

in November, PKP Cargo, PKN Orlen and Euronaft Trzebinia reached an agreement on the sale of assets of railway belonging Group Orlen. The transaction value of over 250 million zł was to take up shares Orlen KolTrans and ZCP Railway – organized part of Euronaft Trzebinia. At the same time contained they were to be a long-term contract for logistic services Orlen Group by PKP Cargo. The deal was conditional, and its finalization required, among others, the consent of the President of the Office of Competition and Consumer Protection. This in March extended the examination of transactions.

The unions Orlen opposed to the sale of the company to the PKP Group. We wrote about it here. However, in the PKP Cargo management reached an agreement yesterday with the social in terms postulated by her wage developments.

Pol-Miedz Trans is in KGHM

At the beginning February 2015, PKP Cargo has signed a preliminary agreement for the acquisition of 49% stake in Pol-Miedz Trans (PMT) belonging to KGHM. Pages announcing the finalization of transactions in the second quarter of 2015. So far, however, it failed. Work on the entrance capital PKP Cargo began right away in September of 2014 years and took place in parallel with the process of separation from the company Pol-Miedz Trans activities related to the management of fuel and haulage bus.

So far it was not yet clear the declaration of the carrier in the case, but said the resignation and with this purchase. – Do not run in the direction of the talks. Logic, however, shows that it would be something to finish, to go to the next point – told reporters in March Libiszewski president.